This casebook focuses on federal securities litigation and enforcement, an area of law that burgeoned after the accounting and corporate governance scandals at Enron, WorldCom, and other large corporations. The third edition incorporates a host of important developments since 2007, including: the collapses of Lehman Brothers and Bear Stearns as well as other aspects of the 2008 financial crisis; the massive Ponzi scheme perpetrated by Bernard Madoff; the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and recent SEC rulemaking thereunder; and major Supreme Court decisions such as Janus Capital Group, Inc. v. First Derivative Traders and Morrison v. National Australia Bank, Ltd.