Key points are not available for this paper at this time.
Frank H. Easterbrook, Daniel R. Fischel, Mandatory Disclosure and the Protection of Investors, Virginia Law Review, Vol. 70, No. 4, Fifty Years of Federal Securities Regulation: Symposium on Contemporary Problems in Securities Regulation (May, 1984), pp. 669-715
Easterbrook et al. (Tue,) studied this question.