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SEC Enforcement’s “SEC_Actions” feed on Twitter goes silent.
Today, Wayne State University law professor Peter Henning and I hashed through the various issues raised in an earlier post about “Hot Tips, Twitter and Insider Trading” in an online discussion. We also explored the recent Mark Cuban decision, the 2nd Circuit’s opinion yesterday in the Dorozhko case, and the bill now before Congress that would prohibit Congressional insider trading. Check it all out here.
I took a shot yesterday at answering my own hypothetical questions involving insider trading liability for tips and trading related to Twitter “tweets.” Recognizing that I was grasping for answers and that I clearly needed to bring in heavier artillery, I reached out to Peter Henning, a law professor and frequent blogger for the New York Times’ DealBook on securities law issues. Peter graciously agreed to help me get to the bottom of these questions, and we will attempt to do that tomorrow in an online chat here at Securities Docket at 1 pm Eastern.
There it sits on its own dedicated page on Securities Docket: “BigLaw Lawyers on Twitter, LAST UPDATED: April 23, 2009.”
There was a period in early 2009 where we were adding lawyers and law firms to this list regularly, but that period has obviously come to an end. Curiously, however, it does not seem as [...]
Securities Docket’s Bruce Carton is going to be experimenting with a Twitter application called Tweetboard for a day or two. It will allow you to quickly view Bruce’s posts on Twitter by clicking on the tab that should now appear on your screen on the left hand side (the tab is red when there are [...]
As more people learn daily, Twitter is a way to get a message out to the entire world. The twist, of course, is that your message will only be seen by people who have chosen to follow your updates. A “tweet” by a person who has no followers is the proverbial tree falling in the forest with no one around to hear it. How does the public/private nature of Twitter fit with the insider trading laws?
We’ve been talking about Twitter here for a while now, going back to late 2008. For most of that time, the response from 90% of you has been “Umm… what??” But with Oprah, Ashton Kutcher and Shaq now bringing Twitter into the mainstream, or at least close to it, I think that Twitter may be reaching the “tipping point” — even in the slow-moving world of law. Here are our 15 People All Securities and Corporate Litigators Should Follow on Twitter.
In the past 48 hours, the L.A. Times, the NYT’s DealBook and the UK’s Telegraph have all run stories announcing that the SEC has joined Twitter as a part of Chairman Mary Schapiro’s effort to revitalize the SEC and to make it more transparent. The problem with all of this is that the SEC has been actively using Twitter since July 2008.
Three important items from the long weekend that may have gotten overlooked and merit a quick update.