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Confidential Information › Publicly-Traded Companies › Enforcement Actions

BCLP

Post-Panuwat: Have You Reviewed and Updated Your Insider Trading and Other Corporate Policies?

BCLP on

As discussed in our September 1, 2021 post, the SEC brought its first “shadow insider trading” case against Matthew Panuwat, a company employee who purchased options in a competitor’s shares shortly after learning his...more

Patterson Belknap Webb & Tyler LLP

UPDATE: SEC Wins Shadow Trading Trial But Court Will Get a Second Look

Patterson Belknap Webb & Tyler LLP on

On April 5, 2024, after an eight-day trial, a jury found Matthew Panuwat liable for violating insider trading laws. Commenting on the Securities and Exchange Commission’s victory, Gurbir Grewal, the agency’s Director of the...more

Littler

SEC Continues to Attack Non-Disclosure Agreements and Personnel Policy Provisions that Could Impede Employees from Reporting...

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The SEC continues to review non-disclosure agreements and other confidential business information provisions of publicly traded companies to ensure whistleblowers are not restricted from freely communicating with the agency...more

Skadden, Arps, Slate, Meagher & Flom LLP

Insights – June 2023

Skadden, Arps, Slate, Meagher & Flom LLP on

This edition of Skadden’s quarterly Insights looks at the latest trends in shareholder activism, the scrutiny companies are facing over their ESG disclosures and employment considerations for using AI in the workplace, among...more

Morrison & Foerster LLP

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

Morrison & Foerster LLP on

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

A&O Shearman

California District Court Allows Novel SEC Insider Trading Theory To Proceed

A&O Shearman on

On January 14, 2022, Judge William Orrick of the United States District Court for the Northern District of California issued an order denying a former biopharmaceutical company executive’s motion to dismiss and allowing the...more

BCLP

SEC Brings First Case Charging Shadow Insider Trading

BCLP on

The SEC’s filing of its first shadow trading case earlier this month signals the agency’s willingness to pursue actions based on expanded theories of insider trading liability. In a federal court complaint, the SEC on...more

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