This course examines private enforcement of the securities laws through class action litigation. The course will analyze the elements of the key causes of action under the securities laws-materiality, causation, and damages-and the ways in which each is proven. A central element of proof in these cases is expert testimony based on an econometric technique called an "event study." An economist who specializes in this type of work teaches this methodology to the class. The course also covers procedural requirements that are unique to securities class actions, including class certification and pleading requirements. Finally, it covers the dynamics of settlement and the role of rules governing indemnification and insurance for defendants. The course concludes with an assessment of the public policy issues bearing on private securities litigation.