The growing importance of foreign markets for the issuance of financial instruments has raised concerns as to how sufficient investor protection can be granted in cross-border prospectus liability cases. So far, the European legislator has not presented a comprehensive answer to these pressing issues. This book analyses the foundations of prospectus liability claims in Germany, England and France as well as the underlying economic principles. Based upon the findings, it further examines and scrutinizes the legal situation under European Private International Law. Finally, the book presents a practicable solution within the framework of the Rome Regulations, taking account of both the need for effective investor protection and the importance of a sufficient calculability of risks for issuers.