UNITED STATES V. O\u27HAGAN: THE SUPREME COURT ABANDONS TEXTUALISM TO ADOPT THE MISAPPROPRIATION THEORY

Abstract

This article analyzes the Supreme Courts ruling in United States v. O\u27Hagen holding that Section 10(b) of the Securities and Exchange Act can be applied to insider trading by corporate outsiders. The article argues that the Supreme Court incorrectly expanded the reach of the statute beyond that which Congress had intended