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Miller Canfield

Redefining Insider Trading: The SEC's Groundbreaking Theory in the Panuwat Case

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In SEC v Panuwat, a federal jury in California will hear a novel insider trading theory that the court has allowed to proceed to trial. In Panuwat, the SEC says it is unlawful for an individual to purchase securities of a...more

Blake, Cassels & Graydon LLP

Cinq décisions canadiennes notables de 2023 dans le domaine des litiges en valeurs mobilières

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Les membres du groupe Litiges en valeurs mobilières de Blakes ont cerné cinq décisions de 2023 particulièrement dignes d’intérêt. Dans le présent bulletin, nous examinons ces décisions, lesquelles ont été rendues par des...more

Blake, Cassels & Graydon LLP

Five Notable Canadian Securities Litigation Decisions from 2023

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The Blakes national Securities Litigation team has identified, and examines in this article, five noteworthy cases from 2023. These cases from across Canada span various tribunals, including the Supreme Court of Canada, Court...more

BakerHostetler

Jury Finds Former NFT Marketplace Manager Guilty of 'Insider Trading' Wire Fraud Scheme and Money Laundering

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On May 3, 2023, a jury found Nathaniel Chastain, a former manager of OpenSea (a major NFT marketplace), guilty of wire fraud and money laundering in connection with his attempts to conceal his use of confidential business...more

Morrison & Foerster LLP

Takeaways for In-House Counsel from the SEC’s “Shadow Insider Trading” Action

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In January 2022, a federal district court denied a motion to dismiss a novel insider trading enforcement action brought by the U.S. Securities and Exchange Commission based upon a theory known as “shadow insider trading.”...more

Akin Gump Strauss Hauer & Feld LLP

SEC Brings First-Ever ‘Alternative Data’ Enforcement Action

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Key Points - The SEC has charged App Annie, Inc. and its former CEO with violations of Section 10(b) of the Exchange Act and Rule 10b-5, which constitute the primary mechanism for enforcing insider trading violations. This...more

Lowenstein Sandler LLP

Sympathy Trading–SEC Seeks To Expand Insider Trading Liability

Lowenstein Sandler LLP on

On August 17, 2021, the U.S. Securities and Exchange Commission (SEC) filed a first-of-its-kind complaint, alleging insider trading against a former employee of Medivation Inc. (Medivation), a California-based...more

Latham & Watkins LLP

Divided Second Circuit Broadens Personal Benefit Test for Insider Trading Liability

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The court’s Martoma decision reinvigorates the US government’s ability to prosecute insider trading cases. Key Points: - The majority opinion overrules recent case law requiring that an insider have a meaningfully close...more

K&L Gates LLP

Government Urges the Supreme Court to Significantly Expand Insider Trading Liability

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Two years ago, the Second Circuit Court of Appeals dealt the government a stinging defeat in United States v. Newman, an insider trading case that the government stated “will dramatically limit the Government’s ability to...more

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