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Tracing

52 Pages Posted: 15 Mar 2005 Last revised: 26 May 2011

Peter B. Oh

University of Pittsburgh - School of Law

Date Written: March 1, 2005

Abstract

Tracing is a method that appears within multiple fields of law. Distinct conceptions of tracing, however, have arisen independently within securities and remedial law. In the securities context plaintiffs must trace their securities to a specific offering to pursue certain relief under the Securities Act of 1933. In the remedial context victims who trace their misappropriated value into a wrongdoer's hands can claim any derivative value, even if it has appreciated.

This article is the first to compare and then cross-apply tracing within these two contexts. Specifically, this article argues that securities law should adopt a version of the rules-based tracing method from remedial law. This method's tracing of exchanged value, instead of purchased securities, will restore broad access to private civil remedies and the optimal level of deterrence for fraudulent public offerings.

Keywords: Intradisciplinarity, Public Offerings, Remedies, Restitution, Securities Act of 1933, Tracing, Unjust Enrichment

JEL Classification: E44, E59, G21, G29, K19, K22, K39, K42, K49, N22

Suggested Citation

Oh, Peter B., Tracing (March 1, 2005). Tulane Law Review, Vol. 80, 2006; William Mitchell Legal Studies Research Paper No. 1. Available at SSRN: https://ssrn.com/abstract=889835 or http://dx.doi.org/10.2139/ssrn.684922

Peter B. Oh (Contact Author)

University of Pittsburgh - School of Law ( email )

3900 Forbes Avenue
Pittsburgh, PA 15260-6900
United States
412.648.1101 (Phone)
412.648.2648 (Fax)

HOME PAGE: http://www.law.pitt.edu/people/peter-b-oh

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