價格維持理論為詐欺市場理論之分支，並為美國聯邦最高法院二○二一年Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System判決所觸及，其相關討論，反映詐欺市場理論之近年發展與若干困境，若能加以探討，將有助於我國對於詐欺市場理論之發展。因此，本文介紹價格維持理論之內涵，以及該理論在結合Amgen與Halliburton II後，對於被告所生之障礙，而在此基礎上，介紹Goldman Sachs案之事實及歷審判決，並及於價格維持理論之其他議題。最後，本文並在價格維持理論的脈絡下，檢視我國實務相關見解。

Price maintenance theory is a branch of the fraud on the market theory as well as the underlying case theory adopted by the plaintiff in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System opinion by the US Supreme Court in 2021. The development of the price maintenance theory reflects the current status of the fraud on the market theory, which this article believes would enhance the corresponding development of the fraud on the market theory in Taiwan. Thus, this article introduces the idea of the price maintenance theory and the hurdle it creates in combination with Amgen and Halliburton II and then gets into Goldman Sachs. Based on the above, this article further reviews the relevant court rulings in Taiwan in the context of the price maintenance theory.