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Insider Trading and Brotherly Love at the Supreme Court
Yesterday, the Supreme Court of the United States decided Salman v. United States, wading into the “personal benefit” requirement necessary to establish criminal insider trading liability. Justice Alito, writing for a unanimous Court, didn’t think the question presented was particularly difficult, stating that the Court’s… Read More
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
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