U.S. Government Appeals Landmark Insider Trading Decision to the Supreme Court
This guest post was authored by our colleague Rimma Tsvasman, an associate in the firm’s Litigation Department in New York. Rimma concentrates her practice on corporate and securities transactions, investment management and commercial litigation. She can be reached at rtsvasman@mmwr.com or 212-867-9500. In a highly anticipated move following a… Read More
UPDATE: Second Circuit Reverses “Downstream Tippee” Convictions
This guest post was authored by our colleague Mark B. Sheppard, a partner in the firm’s Litigation Department. Mark focuses his practice on white collar criminal defense, SEC Enforcement and complex commercial civil litigation. He can be reached at msheppard@mmwr.com or 215.772.7235. As we predicted… Read More
Government Swimming Upstream at Second Circuit Oral Argument on Downstream Insider Trading Liability
The Justice Department has been bullish over its rigorous enforcement of insider training over the past year, but on Tuesday a Second Circuit panel raised questions regarding the government’s theory of liability that led to the conviction of two “downstream” traders. Before the court was… Read More
Update: Second Circuit Limits Government’s “Stream of Payments” Statute of Limitations Theory
Last week, White Collar Alert editor Erin Dougherty reported on the Second Circuit’s unusual summary order reversing the convictions of three former General Electric Co. executives for bid rigging. Yesterday, in a 2-1 decision, the Second Circuit confirmed the expected basis for the reversal, holding… Read More