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- Title
Index adjusted portfolio damages in securities and investment fraud litigation.
- Authors
Steckman, Lawrence A.; Conner, Robert E.
- Abstract
In addressing securities fraud and investment mismanagement, courts and arbitration panels have, in certain circumstances, applied a remedial concept of 'actual damages' that takes into account not merely a plaintiff's loss, but the investment performance which would have been reasonably expected to accrue to the plaintiff. This measure, called 'index adjusted damages,' 'market adjusted damages,' or 'well managed damages,' is applied as a contract remedy for the breach of a promise rather than an out-of-pocket tort remedy; the requisite condition trends to be the clarity of plaintiff's investment objectives and risk parameters, facilitating the measure of damage by reference to selected financial indices reflective of the investment strategy that is the subject of the damage claim.
- Publication
Journal of Securities Law, Regulation & Compliance, 2009, Vol 2, Issue 4, p360
- ISSN
1758-0013
- Publication type
Academic Journal