The Ralston-Landreth-Gustafson Harmony: A Security!

Georgakopoulos, Nicholas L.

doi:10.2139/ssrn.2145355

Abstract

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The Ralston-Landreth-Gustafson Harmony: A Security!

Nicholas L. Georgakopoulos

Indiana University - Robert H. McKinney School of Law

September 12, 2012

Indiana University Robert H. McKinney School of Law Research Paper No. 2012-18

Abstract:
The legal definition of a security is incomplete but consistent with the economic function of securities transactions and the financial theory of securities valuation (the Capital Asset Pricing Model). The switch of the regulatory environment from buyer beware to seller disclose is justified because buyers lack access to information and control. Despite that this analysis makes Landreth and Ruefenacht appear questionable, the regulation of private sales of securities that arises from Ralston Purina, Landreth, and Gustafson is superior to what the drafters of the ’33 Act could have anticipated.

Number of Pages in PDF File: 44

Keywords: Securities Registration, Private Placement Memoranda, Security Definition

JEL Classification: K22

working papers series

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Date posted: September 17, 2012 ; Last revised: November 26, 2012

Suggested Citation

Georgakopoulos, Nicholas L., The Ralston-Landreth-Gustafson Harmony: A Security! (September 12, 2012). Indiana University Robert H. McKinney School of Law Research Paper No. 2012-18. Available at SSRN: http://ssrn.com/abstract=2145355 or http://dx.doi.org/10.2139/ssrn.2145355

Contact Information

Nicholas L. Georgakopoulos (Contact Author)

Indiana University - Robert H. McKinney School of Law ( email )

530 West New York Street
Indianapolis, IN 46202
United States
317-274-1825 (Phone)

HOME PAGE: http://www.nicholasgeorgakopoulos.org