In its important ruling on what the government must prove in a criminal insider trading prosecution, the Second Circuit reversed the convictions of two portfolio managers — throwing out their cases completely, with no new...more
12/15/2014
/ Dell ,
Hedge Funds ,
Illegal Tipping ,
Insider Trading ,
Material Nonpublic Information ,
NVIDIA ,
Personal Benefit ,
Portfolio Managers ,
Rule 10b-5 ,
Securities ,
Securities Fraud ,
US v Newman
On July 31, 2014, the SEC awarded $400,000 to a whistleblower who had reported internally before providing information to the SEC. The award was unique because the SEC’s Claims Review Staff had denied the whistleblower’s...more
After repeated warnings over the last few years that it had both the authority and willingness to do so, on June 16, 2014, the SEC brought its first enforcement action for retaliation against a whistleblower under the...more
In a ground-breaking decision, on March 4, 2014, the United States Supreme Court held in Lawson v. FMR LLC, 571 U.S. __ Case 12-3 (Mar. 4, 2014), that §1514A of the Sarbanes-Oxley Act of 2002 provides a right of action for...more
On October 22, 2013, the U.S. Department of Justice (“DOJ”) and the Securities & Exchange Commission (“SEC”) announced their agreements with Diebold Inc. (“Diebold”) regarding probes into alleged bribery of foreign bank...more
When faced with questions from a government investigator, a person’s silence can now be used in a criminal trial against the person who was questioned and declined to provide an answer....more
In the first opinion on the subject by an appellate court, the U.S. Court of Appeals for the Fifth Circuit ruled in Asadi v. G.E. Energy (USA), LLC, No. 12-20522 (5th Cir. July 17, 2013), that Dodd-Frank’s protections against...more
For 35 years, the U.S. government has enforced the Foreign Corrupt Practices Act (FCPA) while providing an incomplete picture of its views of either effective FCPA compliance or how certain key terms in the statute should be...more