The Inherent Ambiguity of Out-of-Pocket Damages in Securities Fraud Class Actions

Courtesy of Richard A. Booth Most securities fraud class actions under SEC Rule 10b-5 involve revelation of negative information about the defendant company that should have been disclosed earlier – bad news that (allegedly) has been covered up by company agents. The standard remedy in such cases is out-of-pocket damages (OOPs). But this measure of […]