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Material Nonpublic Information Supreme Court of the United States US v Salman

Miller Canfield

U.S. Supreme Court Affirms Broader View of “Personal Benefits” That Can Trigger Insider-Trading Liability

Miller Canfield on

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

Latham & Watkins LLP

Supreme Court Revisits Insider-Trading Liability

Latham & Watkins LLP on

Salman reaffirms Dirks and holds that a “gift” of inside information to a trading relative or friend continues to meet the personal-benefit requirement. The Salman Prosecution - In 2011, Bassam Yacoub Salman was...more

Akin Gump Strauss Hauer & Feld LLP

United States v. Salman: Supreme Court Reaffirms “Friends With Benefits” Test In Insider Trading Cases

On December 6, 2016, in an opinion written by Justice Alito, the Supreme Court unanimously affirmed the Ninth Circuit’s decision in Salman v. United States, a closely-watched insider trading tipping case. Salman builds upon...more

Dorsey & Whitney LLP

The Supreme Court Reaffirms Dirks in Salman

Dorsey & Whitney LLP on

On December 6th, the U.S. Supreme Court handed down its first major decision on insider trading in over 20 years, and affirmed the conviction of Bassam Salman for violations of Section 10(b) of the Securities Exchange Act of...more

A&O Shearman

Supreme Court Affirms That Pecuniary Benefit Not Required For Family Member Tips, But Declines to Address What Constitutes a...

A&O Shearman on

Yesterday, the United States Supreme Court issued a unanimous, but narrow, ruling in Salman v. United States, regarding criminal tipper/tippee liability for insider trading, which the Supreme Court had not significantly...more

Wilson Sonsini Goodrich & Rosati

Government Prevails in Significant Insider Trading Case

On December 6, 2016, the U.S. Supreme Court issued one of its most significant rulings on insider trading in recent years. In its ruling in Salman v. United States, the Supreme Court unanimously upheld Bassam Yacoub Salman’s...more

BCLP

Unanimous Supreme Court Rejects Effort to Cut Back Insider Trading Liability

BCLP on

The U.S. Supreme Court earlier today rejected an attempt to cut back on liability for insider trading where people give inside tips to family members and friends. In Salman v. United States, the Court unanimously held that...more

Dorsey & Whitney LLP

The Supreme Court - December, 2016 #2

Dorsey & Whitney LLP on

The Supreme Court of the United States issued decisions in three cases today: Samsung Electronics Co. v. Apple Inc., No. 15-777: A jury found that smartphones manufactured by petitioner Samsung infringed respondent Apple...more

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