Economics, Econometrics and Finance
4 years ago

Institutional investors lead the way in successful securities law enforcement.

European Company and Financial Law Review
Mapping the American Shareholder Litigation Experience: A Survey of Empirical Studies of the Enforcement of the U.S. Securities Law
James D. Cox, Randall S. Thomas

Paper Summary

The research looked at how U.S. securities laws are enforced through lawsuits and SEC actions. The study found that the laws have been effective in increasing the involvement of institutional investors in lawsuits, leading to better outcomes. However, the SEC tends to focus on smaller cases, letting bigger offenders off the hook.

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