Securities Regulation
Intermediate
Market Manipulation
Trading or information conduct that distorts market prices, trading volume, or perceived supply and demand rather than contributing genuine information or liquidity.
Why It Matters
Manipulation analysis requires attention to market microstructure, intent, price impact, liquidity, and the boundary between legitimate trading and harmful distortion.
Selected Literature
A short list of directly relevant archive entries.
1970
Introductory
1984
Advanced
2017
Advanced
2018
Advanced
Stock Market Manipulation and Its Regulation
Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg
Yale Journal on Regulation
Related Cases
2014
Securities Regulation
Halliburton Co. v. Erica P. John Fund, Inc.
573 U.S. 258 (2014)
Fraud-on-the-market reliance, class certification, and price-impact evidence in securities-fraud class actions.
1943
Securities Regulation
SEC v. C.M. Joiner Leasing Corp.
320 U.S. 344 (1943)
Whether sales of oil-lease assignments promoted together with a promised test well were investment contracts subject to federal securities law.
1946
Securities Regulation
SEC v. W.J. Howey Co.
328 U.S. 293 (1946)
Definition of an investment contract under the federal securities laws.
1953
Securities Regulation
SEC v. Ralston Purina Co.
346 U.S. 119 (1953)
Whether an issuer's unregistered stock offers to employees qualified as transactions not involving a public offering.