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Criminal Prosecution Insider Trading Securities Exchange Act

McGlinchey Stafford

Former CEO Sentenced in Historic Insider Trading Case Under Rule 10b5-1

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On June 23, 2025, U.S. District Judge Dale S. Fischer of the Central District of California sentenced a former Chairman and CEO of a behavioral healthcare company to 42 months in federal prison. This conviction represents the...more

Allen Matkins

Is The SEC's Shadow Trading Win Proof That There Is A Federal Common Law Of Crime After All?

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Last week, the U.S. Securities and Exchange Commission's Director of Enforcement  celebrated a jury verdict in its insider trading case against Matthew Panuwat...more

Dorsey & Whitney LLP

The First Criminal Rule 10b-5-1 Case

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The Commission created Rule 10b5-1 plans two decades ago. The rule essentially creates a safe haven for those who in good faith trade securities and are not in possession of inside information....more

Carlton Fields

Digital Assets: An Expanding Arena for Insider Trading and Market Manipulation

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Both the SEC and DOJ are creatively and aggressively attacking the use of digital assets as a medium for insider trading or market manipulation. While the jurisdictional battle over digital assets still rages between the SEC...more

BakerHostetler

SEC and DOJ Bring Parallel Crypto Insider Trading Cases; SEC Alleges Nine Coinbase-Listed Tokens Are Securities

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Significant parallel actions commenced this week by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) bring crypto fraud enforcement into the spotlight, with the SEC alleging that multiple...more

WilmerHale

Insider Trading Case to Watch: The Second Circuit to Revisit Blaszczak

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This spring, the Second Circuit will revisit its highly consequential insider trading decision in United States v. Blaszczak. The case is one to watch, as it has the potential to impact how the government approaches...more

Dorsey & Whitney LLP

Federal Fraud Statutes - Not A Short Cut to Proving Insider Trading

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The question of what constitutes insider trading has been litigated for decades.  Many thought that a series of Supreme Court cases such as Dirks v. SEC, 462 U.S. 646 (1983) and its progeny had largely resolved the question...more

Faegre Drinker Biddle & Reath LLP

Could New Legislation on Insider Trading be on its Way?

The SEC and DOJ have long prioritized insider trading prosecutions. Moreover, insider trading cases frequently involve parallel investigations in which the SEC and DOJ share information and coordinate efforts to collect...more

Allen Matkins

Bharara Task Force Overlooks California Insider Trading Statute

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I have long advocated for a federal statutory definition of insider trading because I believe that the current approach has been for the courts to convict first and then explicate the theory supporting the conviction in a...more

Perkins Coie

Second Circuit Provides Easier Path for Criminal Insider Trading Cases

Perkins Coie on

The U.S. Court of Appeals for the Second Circuit issued an opinion in United States v. Blaszczak on December 30, 2019 that could significantly affect the prosecution of criminal insider trading cases. The Second Circuit...more

Polsinelli

Prosecutors Not Required to Prove Tipper Received “Personal Benefit” to be Convicted Under Criminal Insider Trading Statute

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On December 30, 2019 the Second Circuit issued its opinion in United States v. Blaszczak, finding that the government can criminally prosecute insider trading under 18 U.S.C. 1348 without proving personal benefit to the...more

Akin Gump Strauss Hauer & Feld LLP

U.S. v. Blaszczak: The 2nd Circuit Makes it Easier to Prosecute Insider Trading

Key Points: The 2nd Circuit has issued a landmark decision for insider trading enforcement that will make it significantly easier for the government to prosecute insider trading in criminal cases. The decision may also...more

Goodwin

Second Circuit Ruling Could Significantly Affect How the Government Charges Insider Trading Cases

Goodwin on

In a recent decision, the Second Circuit in United States v. Blaszczak may have made the prosecution of insider trading significantly easier by ruling that the government is not required to prove that an insider received any...more

Allen Matkins

Implied Causes Of Action Under The California Corporate Securities Law

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As has been widely reported, the United States Supreme Court has dismissed as improvidently granted the writ of certiorari in Emulex Corporation v. Varjabedian. This action leaves standing, at least for the time being, the...more

Patterson Belknap Webb & Tyler LLP

Circuit Upholds Rajaratnam SEC Civil Penalty

In an appeal arising in the aftermath of Raj Rajaratnam’s criminal conviction for insider trading, the Second Circuit (Lynch, Raggi, Droney) issued an opinion upholding an almost $93 million Securities and Exchange Commission...more

Dorsey & Whitney LLP

SEC-USAO Bring Insider Trading Case That is “Newman-Proof”

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When anyone discusses insider trading these days Newman invariably becomes a key topic. Prosecutors decry the decision and its tipping standard. Little doubt why. It has been offered as a defense in innumerable cases. A...more

Akin Gump Strauss Hauer & Feld LLP

SEC’s Authority to Interpret the Securities Laws Comes Under Fire in Criminal Enforcement

A recent statement by Justice Antonin Scalia accompanying the Supreme Court’s denial of certiorari in a criminal insider trading case raises fundamental questions about how the courts interpret the federal securities laws and...more

Katten Muchin Rosenman LLP

SEC Charges Executive With Insider Trading Ahead of Client Announcements

The Securities and Exchange Commission recently filed a complaint in the US District Court for the Southern District of New York against a director at an investor relations firm charging him with multiple instances of insider...more

Dorsey & Whitney LLP

This Week In Securities Litigation (The week ending January 17, 2014)

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The high profile insider trading trial of Matthew Martoma moved forward in New York this week with testimony on behalf of the prosecution. The SEC and four other agencies joined in granting relief from a provision of the...more

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