As noted in our December 9, 2016, Client Alert, the Supreme Court in Salman v. U.S. ruled that the required “personal benefit” to the person disclosing inside information (the tipper) does not need to be “pecuniary” or...more
8/30/2017
/ Appeals ,
Criminal Convictions ,
Dirks v SEC ,
Gifts ,
Illegal Tipping ,
Insider Trading ,
Personal Benefit ,
Pharmaceutical Industry ,
Quid Pro Quo ,
Tippees ,
Tippers ,
US v Newman ,
US v Salman
To be liable for insider trading in violation of the federal securities laws, the insider “tipper” who discloses the inside information must personally benefit, directly or indirectly, from his disclosure to a “tippee” who...more