In SEC v Panuwat, a federal jury in California will hear a novel insider trading theory that the court has allowed to proceed to trial. In Panuwat, the SEC says it is unlawful for an individual to purchase securities of a...more
2/29/2024
/ Confidential Information ,
Corporate Counsel ,
Corporate Issuers ,
Enforcement Authority ,
Insider Trading ,
Material Nonpublic Information ,
Misappropriation ,
Put and Call Options ,
Rule 10b-5 ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Violations ,
Stock Options
As noted in our December 9, 2016, Client Alert, the Supreme Court in Salman v. U.S. ruled that the required “personal benefit” to the person disclosing inside information (the tipper) does not need to be “pecuniary” or...more
8/30/2017
/ Appeals ,
Criminal Convictions ,
Dirks v SEC ,
Gifts ,
Illegal Tipping ,
Insider Trading ,
Personal Benefit ,
Pharmaceutical Industry ,
Quid Pro Quo ,
Tippees ,
Tippers ,
US v Newman ,
US v Salman
To be liable for insider trading in violation of the federal securities laws, the insider “tipper” who discloses the inside information must personally benefit, directly or indirectly, from his disclosure to a “tippee” who...more