Zitzewitz, Eric - In: Contributions to Economic Analysis & Policy 9 (2009) 1, pp. 2185-2185
This paper examines the negotiated settlements of 20 market timing and late trading cases, comparing the restitution obtained for shareholders with an estimate of shareholder dilution. This restitution ratio varies from 0.04 to 5, or from 0.1 to 10 if penalties are included. While some of this...
