The U.S. Department of Justice ("DOJ") won at trial in its first insider trading prosecution against an executive based exclusively on his sales of stock under 10b5-1 trading plans....more
The Securities and Exchange Commission ("SEC") won at trial in its first "shadow trading" case, holding a corporate official liable for insider trading for using nonpublic information about his company's acquisition to trade...more
4/19/2024
/ Acquisition Agreements ,
Enforcement Actions ,
Insider Trading ,
Material Nonpublic Information ,
Pharmaceutical Industry ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Securities Violations ,
Third-Party
Each year, the Department of Justice ("DOJ"), the Securities and Exchange Commission ("SEC"), and in recent years, the Commodity Futures Trading Commission ("CFTC") dedicate substantial resources to investigating and...more
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
6/25/2020
/ 15 U.S.C. § 78u(d)(5) ,
Business Expenses ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Foreign Corrupt Practices Act (FCPA) ,
Insider Trading ,
Internal Controls ,
Liu v Securities and Exchange Commission ,
SCOTUS ,
Securities and Exchange Commission (SEC)
The Situation: Despite Equifax's use of a cover story to keep employees from learning it was the victim of a serious data breach, a then-employee allegedly figured it out and made illegal securities trades based on the...more
7/16/2018
/ Blackout Rules ,
Criminal Prosecution ,
Cybersecurity ,
Data Breach ,
Equifax ,
Former Employee ,
Insider Trading ,
Material Nonpublic Information ,
Popular ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Fraud