Insider Trading

by Stephen M. Bainbridge (Editor)

Overview

This timely book, edited by a leading academic in the field, brings together seminal works of scholarship on insider trading over a 40 year period, with contributions from many prominent law professors and economists. Areas covered in the book include the origins and development of insider trading law, insider trading statues and the policies surrounding insider trading. Professor Bainbridge provides a comparative and international focus as well as coverage of important issues in the US law of insider trading. This title will be of immense value to scholars and practitioners interested in this evolving and topical field of study.

Product Details

ISBN-13:	9781849801355
Publisher:	Edward Elgar Publishing
Publication date:	01/30/2012
Series:	Corporate Law series , #1
Pages:	768
Product dimensions:	6.62(w) x 9.62(h) x (d)

About the Author

Edited by Stephen M. Bainbridge, William D. Warren Distinguished Professor of Law, University of California, Los Angeles, US

Table of Contents

Contents:

Acknowledgements

Introduction Stephen M. Bainbridge

PART I ORIGINS AND DEVELOPMENT OF INSIDER TRADING LAW
1. Michael Conant (1960), ‘Duties of Disclosure of Corporate Insiders Who Purchase Shares’
2. Arthur Fleischer, Jr., Robert H. Mundheim and John C. Murphy, Jr. (1973), ‘An Initial Inquiry into the Responsibility to Disclose Market Information’

PART II THE SUPREME COURT’S DECISIONS IN CHIARELLA AND DIRKS
3. Donald C. Langevoort (1982), ‘Insider Trading and the Fiduciary Principle: A Post-Chiarella Restatement’
4. Jonathan R. Macey (1984-85), ‘From Fairness to Contract: The New Direction of the Rules Against Insider Trading’

PART III THE MISAPPROPRIATION THEORY EMERGES
5. Richard W. Painter, Kimberly D. Krawiec and Cynthia A. Williams (1998), ‘Don’t Ask, Just Tell: Insider Trading after United States v. O’Hagan’
6. A.C. Pritchard (1998), ‘United States v. O’Hagan: Agency Law and Justice Powell’s Legacy for the Law of Insider Trading’

PART IV INSIDER TRADING STATUTES
7. Donald C. Langevoort (1984), ‘The Insider Trading Sanctions Act of 1984 and Its Effect on Existing Law’
8. Lawrence E. Mitchell (1988), ‘The Jurisprudence of the Misappropriation Theory and the New Insider Trading Legislation: From Fairness to Efficiency and Back’

PART V INSIDER TRADING POLICY: THE MANNE DEBATE
9. Henry G. Manne (1966), ‘In Defense of Insider Trading’
10. Roy A. Schotland (1967), ‘Unsafe At Any Price: A Reply to Manne, Insider Trading and the Stock Market’
11. Henry G. Manne (1970), ‘Insider Trading and the Law Professors’

PART VI INSIDER TRADING POLICY: THE POST-MANNE DEBATE
12. Michael P. Dooley (1980), ‘Enforcement of Insider Trading Restrictions’
13. Dennis W. Carlton and Daniel R. Fischel (1983), ‘The Regulation of Insider Trading’
14. Larry E. Ribstein (1998), ‘Federalism and Insider Trading’
15. Stephen M. Bainbridge (2000), ‘Insider Trading’

Name Index

Editorial Reviews

‘. . . the articles contained in this book provide an excellent understanding as to how the law developed to where it is today, not only in the United States, but also in the United Kingdom and other jurisdictions. This is therefore a book for those who have a very serious interest in this subject and who wish to develop an understanding of the thinking which has led to the current position. This means it is probably more likely to be of interest to academic lawyers rather than practising lawyers. However, it would be a great pity if it doesn’t reach a wider audience as each chapter is truly excellent.’

From the Publisher

‘. . . this engrossing collection of articles offers both a theoretical and historical perspective on insider trading. If you’re doing research, or need some background on this subject, editor Stephen Bainbridge has cherry picked a collection of some of the most interesting articles on insider trading published in the US over a period of 40 years or so, so you don’t have to.’

Phillip Taylor MBE and Elizabeth Taylor

‘Insider Trading contains a superb collection of articles – providing an excellent overview of insider trading from both a theoretical and historical perspective. The book should prove quite useful for academicians and students desiring a collection of a variety of insightful sources in one volume.’

Marc I. Steinberg

‘. . . the articles contained in this book provide an excellent understanding as to how the law developed to where it is today, not only in the United States, but also in the United Kingdom and other jurisdictions. This is therefore a book for those who have a very serious interest in this subject and who wish to develop an understanding of the thinking which has led to the current position. This means it is probably more likely to be of interest to academic lawyers rather than practising lawyers. However, it would be a great pity if it doesn’t reach a wider audience as each chapter is truly excellent.’

Andrew Campbell

‘Stephen Bainbridge has made the study of insider trading a very understandable law book. . . Insider Trading is a most useful conglomeration of vital thoughts on the issues of insider trading as it applies across the world. The papers on inside information and on information withheld give much food for thought and will bring much imagination to prosecutors. It makes light reading of a very important matter and is a highly recommended book that must be included in law libraries everywhere.’

Sally Ramage

‘Insider trading, among all topics in securities regulation, has generated an extensive discourse with far greater heat than light. Steve Bainbridge has performed a valued public service by putting together the best in the legal literature with this volume. Hopefully, going forward, with this endeavor the heat/light quotient will be impacted, if not reversed.’

Roberta Romano