An Empirical Examination of the Role of Public and Private Litigators in the Enforcement of Securities Legislation
Project Leader: Nishal Ramphal
This research considers joint enforcement of federal securities laws. It examines the efficacy and substitutability of public and private enforcement mechanisms, how Sarbanes-Oxley has perturbed the balance of jointly litigated suits, and the role of public and private litigation in discipling self regulatory organizations (in particular the national stock exchanges). A final contribution is to compare the success of public and private enforcement mechanisms in requiring settling defendants to adopt corporate governance reforms as part of their settlement agreements.
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