Securities Litigation provides an analytical and practical framework addressing the key subjects in the field, complemented by problems and exercises to enhance students' lawyering skills. U.S. Supreme Court and lower court cases that cover the key remedial provisions are highlighted, including Sections 11 and 12 of the Securities Act and Section 10(b) of the Securities Exchange Act, as well as alternative federal remedial statutes and secondary liability provisions. Integral to this discussion is a thorough treatment of class and derivative actions. Government enforcement is also analyzed, with particular focus on SEC and criminal enforcement. In addition, state securities litigation is covered in depth, along with professional liability exposure. The new edition also adds coverage of cutting-edge issues, including the regulation of digital assets, new forms of market manipulation, the rise of state securities class actions, recent insider trading cases analyzing tipper-tippee liability, and unsettled questions about the fraud-on-the-market presumption of reliance.