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Insider Trading Judge Rakoff

A&O Shearman

Second Circuit Re-Affirms Insider Trading Conviction Of Rajat Gupta

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On January 7, 2019, the United States Court of Appeals for the Second Circuit affirmed — for the second time — the insider trading conviction of Rajat Gupta. Gupta v. United States, No. 15-2707 (2d Cir. Jan. 7, 2019). In a...more

BCLP

New SDNY Case Illustrates Broad Reach of Prosecutors’ Power to Pursue Insider Trading Claims Despite Personal Benefit Requirement

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A decision last week from the U.S. District Court for the Southern District of New York illustrates the broad reach of prosecutors and regulators in pursuing recipients of insider trading tips, despite the case-law...more

Latham & Watkins LLP

The Circuits Are Split: Are Tangible Benefits Required for Insider Trading Liability?

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The Ninth Circuit’s recent decision calls into question the Second Circuit’s definition of “personal benefit” for insider trading liability in criminal prosecutions. On July 6, 2015, United States District Court Judge...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The Ninth Circuit upheld a conviction for illegal tipping, following Dirks but raising doubt regarding its adherence to Newman in an opinion authored by Judge Rakoff, sitting by designation. The Commission filed settled...more

Brooks Pierce

Insider Trading Recklessness and Kevin Love’s Shoulder

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A couple of weeks ago I expressed skepticism about the ultimate impact of Judge Rakoff’s recent opinion in SEC v. Payton. In it, he held that for purposes of a motion to dismiss, the SEC had adequately alleged insider...more

Akin Gump Strauss Hauer & Feld LLP

Southern District Allows SEC Insider Trading Case to Proceed, Distinguishing Newman

A recent decision from the United States District Court for the Southern District of New York allowing a U.S. Securities and Exchange Commission (SEC) civil enforcement action to proceed against two former stockbrokers for...more

Dorsey & Whitney LLP

Insider Trading: Does Payton Begin the Erosion of the Newman Tipping Test?

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The Second Circuit’s decision in U.S. v. Newman, 773 F. 3d 438 (2nd Cir. 2014) regarding the personal benefit test in insider trading either radically altered the law or just reaffirmed the Supreme Court’s decision in Dirks...more

Proskauer - Corporate Defense and Disputes

Court Upholds SEC’s Insider-Trading Complaint and Questions Second Circuit’s Newman Decision

U.S. District Judge Jed Rakoff issued a decision in SEC v. Payton (S.D.N.Y. Apr. 6, 2015) denying the defendants’ motion to dismiss a civil insider-trading suit filed by the SEC. The court held that the SEC’s complaint had...more

Katten Muchin Rosenman LLP

Raj Rajaratnam Appeals $92 Million Civil Fine to Second Circuit Court of Appeals

Convicted investment fund founder Raj Rajaratnam filed an appeal of his Securities and Exchange Commission case in the United States Court of Appeals for the Second Circuit, arguing that the district court improperly sought...more

McGuireWoods LLP

Law Enforcement Bliss: The SEC As Policeman, Judge and Jury

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New York’s Southern District Court Judge Jed Rakoff is always worth listening to. He expresses trenchant views about the rule of law elegantly and politely. He is fearlessly independent. Prosecutors in the US, who are...more

Dorsey & Whitney LLP

This Week In Securities Litigation (Week ending June 6, 2014)

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The SEC had mixed results in court this week. A Manhattan jury returned a verdict against the agency in a high profile and long-running insider trading case where the agency had previously obtained favorable rulings from the...more

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