A key economic question in securities litigation is how to determine the amount of harm that can be attributed to alleged misstatements and that may be considered as damages. Securities litigation and the legal frameworks around the determination of damages have been developing in different...

Institutions issuing publicly traded securities must divulge in a timely fashion any piece of information that may affect the price of their securities. When they fail to do so, these issuers expose themselves not only to administrative—and sometimes criminal—sanctions, but also to private...