Peat, Marwick, Mitchell & Co. v. Lipton

adopting fraud-on-the-market theory in context of securities traded in open market | adopting fraud-on-the-market theory in context of securities traded in open market | fraud on market finds greatest justification when applied to class actions alleging fraud affecting security prices on developed open market | adopting Blackie fraud on the secondary market theory | adopting Blackie fraud on the secondary market theory