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Confidential Information Rule 10b-5 Securities Fraud

Holland & Knight LLP

Shady Days: SEC Secures Another Insider Trading Stat on Shadow Trading Theory

Holland & Knight LLP on

The U.S. District Court for the Northern District of California on May 30, 2024, approved a settled final judgment against technology company Arista Networks' former chairman and CEO, Andreas "Andy" Bechtolsheim based on...more

WilmerHale

The Second Circuit's Blaszczak Decision Fails to Resolve One Issue, Raises New Ones

WilmerHale on

On December 27, 2022—nearly 18 months after hearing oral arguments—the Second Circuit issued its new opinion in United States v. Blaszczak, an important insider trading case involving the misappropriation of confidential...more

Kramer Levin Naftalis & Frankel LLP

In Echo of Expert Network Cases, SEC Reaches Securities Fraud Settlement with Alternative Data Provider

On Sept. 14, 2021, the Securities and Exchange Commission (SEC) entered a cease-and-desist order against App Annie Inc. and its co-founder and former CEO, Bertrand Schmitt, after agreeing to settle securities fraud claims....more

Akin Gump Strauss Hauer & Feld LLP

SEC Brings First-Ever ‘Alternative Data’ Enforcement Action

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

Akin Gump Strauss Hauer & Feld LLP

New Shadow Trading Enforcement Lessons For Private Funds

The U.S. Securities and Exchange Commission has a long history of adopting novel theories in litigation to convince the courts to expand the scope of the federal insider trading laws. The SEC's latest effort comes in an...more

Akin Gump Strauss Hauer & Feld LLP

New “Shadow Insider Trading” SEC Enforcement Action -- Four Lessons for Private Fund Managers

Last week, the U.S. Securities and Exchange Commission filed a complaint in federal court in California premised on the novel legal theory that the insider trading laws apply where an insider uses confidential information...more

Polsinelli

Supreme Court Asks Second Circuit to Reconsider Ruling in Insider Trading Prosecution

Polsinelli on

Last year, we reviewed the Second Circuit decision in United States v. Blaszczak, which made it easier to prosecute trading on inside information. A divided panel of the Second Circuit Court of Appeals declined to extend the...more

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