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Supreme Court of the United States › Insider Trading

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for June 2024

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Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The Supreme Court’s Jarkesy decision and its impact on the...more

BCLP

2024: Updates and Reminders for Upcoming Quarterly Filings

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Potential regulatory uncertainty in light of Supreme Court decisions. The recent Supreme Court term produced several landmark decisions affecting administrative agencies, including...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for April 2024

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Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s first “Shadow Trading” trial; •SCOTUS’s...more

Paul Hastings LLP

Public Company Watch: April 2024

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In the April edition of our Public Company Watch, we cover key issues impacting public companies, including the SEC’s recent enforcement action regarding “AI Washing,” the SEC’s recent shadow trading case, proposed amendments...more

ArentFox Schiff

Investigations Newsletter: SCOTUS Declines to Hear False Claims Act Challenge

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SCOTUS Declines to Hear False Claims Act Challenge - On January 22, the US Supreme Court denied a petition to hear a challenge to a Fifth Circuit Court of Appeals decision that upheld scienter and False Claims Act (FCA)...more

ArentFox Schiff

Investigations Newsletter: DOJ Enters Into DPAs with Former Deerfield Traders and CMS Consultant

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DOJ Enters Into DPAs with Former Deerfield Traders and CMS Consultant - On July 24, 2023, the US Department of Justice (DOJ) entered into deferred prosecution agreements with Theodore Huber and Robert Olan, former traders...more

Goodwin

Supreme Court Delivers Key Defense Victory by Limiting Section 11 Claims in Direct Listings - and Again Calling for a Rigid...

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On June 1, 2023, the United States Supreme Court issued a unanimous opinion that makes it more difficult for shareholders to bring Section 11 claims against companies that go public via direct listings. The case involved a...more

Paul Hastings LLP

Public Company Watch: June 2023

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In the June edition of our Public Company Watch, we cover key issues impacting public companies, including the first cryptocurrency insider trading enforcement action settled by the SEC based on specific allegations that...more

Proskauer Rose LLP

SEC Approach In Wahi Presents New Challenges For Crypto

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Government scrutiny of the crypto market has been sharply increasing in recent months on the criminal and civil enforcement fronts. In parallel proceedings that will be seen in other digital asset contexts — as in the...more

Akin Gump Strauss Hauer & Feld LLP

Blaszczak II: 2nd Circuit Reverses Course and Overturns Insider Trading Convictions

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Key Points - In the wake of the Supreme Court’s “Bridgegate” decision in Kelly v. United States, a divided panel in the 2nd Circuit reversed its prior decision in United States v. Blaszczak, and held that a federal...more

Morrison & Foerster LLP

Second Circuit Nixes Theory of Insider Trading on Confidential Government Agency Information

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On December 27, 2022, in United States v. Blaszczak (“Blaszczak II”), the U.S. Court of Appeals for the Second Circuit called into question what constitutes “property” in cases of securities fraud, wire fraud and theft of...more

Dechert LLP

Don’t Trade on Me: Second Circuit Excludes Confidential Agency Information From the Definition of “Property” in Insider Trading...

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A divided panel of the U.S. Court of Appeals for the Second Circuit held, on December 27, 2022, in United States v. Blaszczak (“Blaszczak II”) that an agency’s confidential, pre-decisional information did not count as...more

Proskauer - Corporate Defense and Disputes

Second Circuit Questions Use of Criminal Insider-Trading Statute Without Proof of Receipt of Personal Benefit

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The Second Circuit held yesterday that a government agency’s nonpublic, pre-decisional regulatory information does not constitute “property” for purposes of the federal insider-trading and wire-fraud statutes. The decision...more

BakerHostetler

Does the Supreme Court Argument in Ciminelli Foreshadow Further Narrowing of Federal Fraud Statutes?

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In recent years, the U.S. Supreme Court has narrowed the scope of various federal criminal fraud statutes. For example, in McDonnell v. United States, the Court overturned the honest services fraud conviction of the former...more

Sheppard Mullin Richter & Hampton LLP

NFT Insider Trading Charge Doesn’t Require the NFT To Be a Security

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We previously blogged about the NFT insider trading case against Nathaniel Chastain. He was charged with wire fraud and money laundering in connection with a scheme to commit “insider trading” in Non-Fungible Tokens (“NFTs”)...more

Winstead PC

Florida District Court Permits the SEC to Pay Disgorgement to the US Treasury Where Victims of the Fraud Could not be Identified

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Recently, in SEC v. Spartan Securities Group, Ltd, et al., a Florida federal court held that the Securities and Exchange Commission (“SEC”) could seek disgorgement and direct funds to the Treasury because the defrauded...more

ArentFox Schiff

Investigations Newsletter: Supreme Court To Decide on DOJ Authority in FCA Suits

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Supreme Court To Decide on DOJ Authority in FCA Suits - On Tuesday, the US Supreme court agreed to hear a case examining whether the federal government has lost its authority to dismiss a whistleblowers False Claims Act...more

Allen Matkins

SEC Alleges Tipper Received Or Expected A Benefit, But Fails To Identify The Benefit

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In Dirks v. SEC, 463 U.S. 646 (1983), the United States Supreme Court found that a tippee may be liable for trading on the basis of material, nonpublic information if he or she knows that the tipper disclosed inside...more

Vinson & Elkins LLP

Insider Trading Update: Recent Developments And Compliance Risks

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Two separate, recent lines of cases have continued to shape the circumstances under which insider trading prosecutions can be brought, and as a result, the insider trading compliance risks faced by companies. First, the...more

Allen Matkins

SEC Ventures Into The Dark Web, But Can It Establish A Connection?

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In March, the Securities and Exchange Commission announced its first securities enforcement action involving the "dark web".  The SEC's complaint describes the "dark web" as referring to "a subset of the deep web that is...more

Perkins Coie

US Supreme Court Remands Blaszczak Insider Trading Case Back to the Second Circuit

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The U.S. Supreme Court recently cast doubt on the criminal convictions of the one-time “King of Political Intelligence” David Blaszczak and three others for their role in an insider trading scheme. The Court’s action could...more

Foley Hoag LLP

U.S. Supreme Court Vacates Second Circuit’s Expansion of Criminal Insider Trading Liability

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On January 11, 2021, the U.S. Supreme Court vacated the 2019 decision of the U.S. Court of Appeals for the Second Circuit in United States v. Blaszczak, which substantially broadened the scope of criminal insider trading...more

Jones Day

U.S. Supreme Court Allows Profits-Based SEC Disgorgement Awards

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The Court holds that the Securities and Exchange Commission ("SEC") can continue to seek disgorgement from wrongdoers, while narrowing the remedy to net profits that are returned to victims. In Liu v. SEC, 591 U.S. ___...more

Robins Kaplan LLP

Financial Daily Dose 10.21.2019 | Top Story: Four Drug Companies Reach Last-minute Deal to Avoid Start of Federal Opioid Trial

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A last-minute deal between defendants McKesson, Cardinal Health, AmerisourceBergen, and Teva and plaintiffs’ attorneys means that multidistrict opioid epidemic litigation set to kick off in Ohio federal court today will not...more

Robins Kaplan LLP

Financial Daily Dose 6.4.2019 | Top Story: DOJ, FTC, and Congress Set to Investigate Big Tech

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Much more on the suddenly hot topic of Big Tech antitrust oversight, including a negotiated agreement among regulators that will see the DOJ handling Apple and Google while the Federal Trade Commission will take on Facebook...more

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