Introduction -- State corporate law -- The federal insider trading prohibition : statutory background -- Common law origins of the federal insider trading prohibition -- The Supreme Court creates the modern federal insider trading prohibition -- The disclose or abstain rule today -- The misappropriation theory -- The fiduciary duty requirement and nontraditional relationships -- Selective disclosure and regulation FD -- Rule 14e-3 -- Remedies and penalties -- Liability without a fiduciary relationship -- Why do we care? : the economics of insider trading -- Section 16(b)