Abstract

http://ssrn.com/abstract=2049486
 


 



Launching the Insider Trading Revolution: SEC v. Capital Gains Research Bureau


Adam C. Pritchard


University of Michigan Law School

May 1, 2012

Research Handbook on Insider Trading, Stephen Bainbridge, ed., 2013
U of Michigan Law & Econ Research Paper No. 12-005

Abstract:     
This paper examines the Supreme Court's decision in SEC v. Capital Gains Research Bureau and its effect on the development of the law of insider trading. Capital Gains broke ground both in its approach to interpreting the federal securities laws, as well as its willingness to incorporate fiduciary principles into the law of insider trading. The opinion's influence was short-lived, however, as the Supreme Court reverted to a more textualist approach in securities cases only a decade after Capital Gains was decided.

Number of Pages in PDF File: 35

Keywords: Insider trading, statutory interpretation, Supreme Court

JEL Classification: K22

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Date posted: May 1, 2012 ; Last revised: July 23, 2013

Suggested Citation

Pritchard, Adam C., Launching the Insider Trading Revolution: SEC v. Capital Gains Research Bureau (May 1, 2012). Research Handbook on Insider Trading, Stephen Bainbridge, ed., 2013; U of Michigan Law & Econ Research Paper No. 12-005. Available at SSRN: http://ssrn.com/abstract=2049486

Contact Information

Adam C. Pritchard (Contact Author)
University of Michigan Law School ( email )
625 South State Street
Ann Arbor, MI 48109-1215
United States
734-647-4048 (Phone)
734-647-7349 (Fax)

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