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Hastings Business Law Journal

Abstract

Rule lOb-5 of the Securities and Exchange Act of 1934 has assumed greater importance in the wake of recent corporate scandals. There is great value, therefore, in reexamining the way courts calculate damages in Rule 1Ob-5 actions. The author begins with a brief primer on this important component of securities law. He then explains how damages are determined by Ninth Circuit federal courts in Rule 1Ob-5 actions. Finally, the author argues that statutory fines should replace the use of vague and complex factors to determine damages in Rule 1 Ob-5 actions.

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