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Perpetual Options: The Rise of a New Crypto Derivative and How to Value It

Perpetual Options: What They Are and How to Value Them

Perpetual options are options that never expire, and that one change creates a hard problem: how do you put a fair value on a contract with no end date? For attorneys, corporations, and regulators who deal with financial disputes, that question is turning practical. These instruments are moving from academic…

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SPAC Share Restriction Litigation

SPAC Share Restriction Litigation: How Damages Are Measured

SPAC share restriction litigation has become one of the more technically demanding areas of securities law to emerge from the de-SPAC boom, and the legal landscape is still evolving. When investors find themselves locked out of the market by restrictions they believe were wrongly imposed, extended, or never properly disclosed,…

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How AI is Complicating Reliance Arguments in Securities Class Actions

How AI is Complicating Reliance Arguments in Securities Class Actions

The fraud-on-the-market doctrine has been the backbone of securities class action litigation since Basic Inc. v. Levinson in 1988. It lets plaintiffs avoid the nearly impossible task of proving individual reliance – instead, they invoke a rebuttable presumption that anyone who traded in an efficient market effectively relied on the…

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Prediction Markets and Event Studies: What Securities Litigators Need to Know

Prediction Markets and Event Studies: A Cleaner Signal in Securities Litigation

Event studies have been central to securities fraud litigation for a long time. Courts use them to answer one core question: did the company’s disclosure actually move the stock price, or was something else happening that day? Stock prices, though, are noisy. On any given day, a stock might move…

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