The shifting raison d’être of the Rule 10b-5 private right of action

This is a draft chapter that has been accepted for publication by Edward Elgar Publishing in the forthcoming book Research Handbook on Representative Shareholder Litigation edited by Sean Griffith, Jessica Erickson, David H. Webber, and Verity Winship and due to be published in 2017. It offers a historical and theoretical context for understanding the voluminous body of scholarship examining the contemporary social function of private Rule 10b-5 enforcement.