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To: JMD who wrote (13861)6/25/2000 4:06:00 PM
From: Art Bechhoefer  Respond to of 29987
 
Mike, re "fraud on the market," the Harvard Law Review article I referred to earlier was written on the basis of a case that was successfully prosecuted on this theory. The writer thought that the decision would set a precedent. I probably still have the article, but finding it after all these years might be difficult. But, yes, it is now a precedent. And yes, it is far easier to prosecute than insider trading, which can often be concealed.

Art


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