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Permanent Injunctions Insider Trading

BCLP

Criminal indictment of Executive Chairman and parallel civil charges show Feds' willingness to challenge Rule 10b5-1 trading plans

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The Justice Department recently indicted the Executive Chairman of Ontrak, Inc. alleging that he failed the “clean hands” requirement because he had been aware of material nonpublic information relating to the potential loss...more

Eversheds Sutherland (US) LLP

Legal Alert: DOJ and CFTC team up on spoofing enforcement

On September 16, 2019, the US Department of Justice (DOJ) indicted three precious metals traders for allegedly violating six criminal statutes, including the Racketeer Influenced and Corrupt Organizations Act...more

ArentFox Schiff

Investigations Newsletter: Inpatient Rehabilitation Company Agrees to Pay $48 Million to Resolve FCA

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DOJ News - Inpatient Rehabilitation Company Agrees to Pay $48 Million to Resolve FCA Allegations - DOJ announced that Encompass Health Corporation (f/k/a HealthSouth Corporation), the nation’s largest operator of...more

Dorsey & Whitney LLP

SEC Partially Resolves One Action, Concludes Another

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The SEC announced the partial resolution of one action last week and the conclusion of another. One centered on the collapse of Dewey & LeBoeuf, LLP. The other concluded an insider trading action involving inside information...more

Dorsey & Whitney LLP

SEC Wins Jury Verdict in Insider Trading Case

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The SEC prevailed at trial, winning a jury verdict is an unusual insider trading case against a former Capital One Financial Corporation employee. SEC v. Huang, Civil Action No. 15-cv-269 (E.D. Pa. Filed Jan. 22, 2015)....more

Dorsey & Whitney LLP

SEC Settles Insider Trading Case With Admissions

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A critical question in insider trading cases currently being brought is whether there are sufficient facts to comply with the Newman personal benefit test – at least if the case is in the Second Circuit. While in many...more

Dorsey & Whitney LLP

SEC Partially Settles Insider Trading Action Based on Gift to Romantic Partner

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The SEC filed an insider trading action in which the tipper partially settled the action. While the complaint alleged that the tippee knew of the breach of duty and that the information was gifted to him by his romantic...more

Dorsey & Whitney LLP

SEC – Broker From Grand Central Insider Trading Scheme Settle

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The scheme was perfect. Broker Vladimir Eydelman of Oppenheimer & Co. would place the trades; law school graduate Steven Metro, a clerk at Simpson Thatcher, would misappropriate the inside information; mortgage broker Frank...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The SEC prevailed on two summary judgment motions. One centered on a manipulation action. The other was against an attorney who facilitated a prime bank fraud. The Commission also filed: An action against UBS tied to its...more

Dorsey & Whitney LLP

An Example of Cooperation Credit From The SEC

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DOJ and SEC officials repeatedly encourage cooperation. There are benefits for both sides. Cooperation can facilitate the Government’s investigation, providing a road to the scheme. Testimony can aid in obtaining a favorable...more

Dorsey & Whitney LLP

Another SEC Insider Trading Case: Does it Comply With Newman?

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The SEC continues to bolster its allegations regarding the relationships between tipper and tippee in insider trading cases as well as the knowledge of the tippee. Whether those allegations will be sufficient to meet the...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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Rengan Rajaratnam settled his insider trading case with the SEC this week, consenting to the entry of a permanent injunction and agreeing to pay disgorgement, prejudgment interest, a civil penalty and to be barred from the...more

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