News & Analysis as of

Centers for Medicare & Medicaid Services (CMS) Personal Benefit

BakerHostetler

Second Circuit Vacates Insider Trading Convictions, Narrowing the Scope of Future Prosecutions

BakerHostetler on

As discussed more fully in our alert when Blaszczak I was issued, the crux of this case was that four individuals were charged with and convicted of an alleged scheme to obtain nonpublic information from the Centers for...more

Foley Hoag LLP

U.S. Supreme Court Vacates Second Circuit’s Expansion of Criminal Insider Trading Liability

Foley Hoag LLP on

On January 11, 2021, the U.S. Supreme Court vacated the 2019 decision of the U.S. Court of Appeals for the Second Circuit in United States v. Blaszczak, which substantially broadened the scope of criminal insider trading...more

Holland & Knight LLP

Second Circuit Paves Easier Route to Prosecute Disclosure of Agency Information, Insider Trading

Holland & Knight LLP on

In a ruling with far-reaching implications, the U.S. Court of Appeals for the Second Circuit recently held that pre-announcement information at the Centers for Medicare & Medicaid Services (CMS) about reimbursement rates...more

Sheppard Mullin Richter & Hampton LLP

United States v. Blaszczak: Second Circuit Ruling Creates Opening for Significant Increase in Insider Trading Prosecutions

The Second Circuit recently took an unexpected plunge into the torrid waters of insider trading law. Following several years of decisions limiting the government’s broad interpretation of what constitutes a personal benefit...more

Perkins Coie

Second Circuit Provides Easier Path for Criminal Insider Trading Cases

Perkins Coie on

The U.S. Court of Appeals for the Second Circuit issued an opinion in United States v. Blaszczak on December 30, 2019 that could significantly affect the prosecution of criminal insider trading cases. The Second Circuit...more

White and Williams LLP

Second Circuit: Insider Trading Conviction Does Not Require a Finding of Personal Benefit

White and Williams LLP on

On December 30, 2019, the Second Circuit issued its landmark decision in United States v. Blaszczak, which widened the berth for federal prosecution of insider trading activities under Title 18 of the United States Code. The...more

Polsinelli

Prosecutors Not Required to Prove Tipper Received “Personal Benefit” to be Convicted Under Criminal Insider Trading Statute

Polsinelli on

On December 30, 2019 the Second Circuit issued its opinion in United States v. Blaszczak, finding that the government can criminally prosecute insider trading under 18 U.S.C. 1348 without proving personal benefit to the...more

WilmerHale

Insider Trading Law Alert: The Second Circuit Clears the Path for Insider Trading Convictions Absent a Dirks Personal Benefit

WilmerHale on

On December 30, 2019, the Second Circuit issued a consequential insider trading decision in United States v. Blaszczak. In Blaszczak, the Second Circuit faced the question whether the “personal benefit” test set forth in...more

Proskauer - Corporate Defense and Disputes

Second Circuit Holds that a “Personal Benefit” Is Not Required for Insider Trading Under Criminal Securities Statute

The Second Circuit held earlier this week that the criminal statute proscribing securities fraud permits convictions for insider trading without proof that the provider of material, nonpublic information received a personal...more

Foley & Lardner LLP

SEC and U.S. Attorney’s Office Continue Their Pursuit of Criminal Actions Against Purveyors of “Political Intelligence”

Foley & Lardner LLP on

On May 24, 2017, the United States Attorney’s Office for the Southern District of New York and the Securities and Exchange Commission (SEC) launched their latest criminal and civil salvos against prohibited insider trading by...more

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