Nicholas L. Georgakopoulos is the H. R. Woodard Professor of Law at the Robert H. McKinney School of Law, Indiana University. He has extensively researched and published on securities law and related fields. His previous publications include Principles and Methods of Law and Economics (Cambridge, 2005), and a co-authored five-volume treatise Blumberg on Corporate Groups.
Foreword Richard Posner
1. Introduction. Real markets and financial markets
Part I. Definition of a Security: When to Leave Buyer Beware for Seller Disclose?: 2. Toward defining a security
3. The vacuous definition of a security
4. The function of investment contract
5. Pricing mechanisms
6. From the sale of business doctrine to Gustafson
7. Gustafson works!
8. Definition conclusion
Part II. Disclosure: Why Subsidize Informed Traders?: 9. Introduction
10. An overview of disclosure theories
11. The failure of the corporate disclosure decision
Part III. Deterrence of Securities Fraud: 12. Introduction to deterrence intensity
13. Comparing the economic function of deceit to that of securities fraud
14. Reliance in deceit and securities fraud
15. Conclusion of deterrence intensity
Part IV. Insider Trading: 16. Introduction to insider trading
17. Insider trading law
18. Defining insiders
19. Concluding the insider trading analysis
Part V. The Virtuous Cycle of Liquid Markets, Accurate Prices and Cheap Trading: 20. The virtuous cycle
21. Closing note: financial crises and securities law.
