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Martoma Confidential Information US v Salman

Proskauer Rose LLP

Second Circuit Again Holds That Tipper/Tippee Liability Can Arise from a Gift of Inside Information Even Without a Close Personal...

Proskauer Rose LLP on

The Second Circuit confirmed this week that a "meaningfully close personal relationship" is not required for insider-trading liability where a tipper discloses inside information as a gift with the intent to benefit the...more

Latham & Watkins LLP

Divided Second Circuit Broadens Personal Benefit Test for Insider Trading Liability

Latham & Watkins LLP on

The court’s Martoma decision reinvigorates the US government’s ability to prosecute insider trading cases. Key Points: - The majority opinion overrules recent case law requiring that an insider have a meaningfully close...more

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