Daily Archives: June 5, 2014, 3:47 pm

Setbacks Show Holes in Insider-Trading Cases – WSJ

The government’s push against insider trading is being tested along several fronts, as the effort to curb illicit use of nonpublic information enters a new and arguably more difficult phase. The latest flash points include the high-profile probe into billionaire investor Carl Icahn, professional golfer Phil Mickelson and sports bettor William “Billy” Walters, along with two recent setbacks for the…

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Second Circuit Vacates Judge Rakoff’s Rejection of SEC’s Citigroup Settlement | The D&O Diary

On June 4, 2014, in a long-awaited but not unexpected opinion (here), the Second Circuit ruled that Southern District of New York Judge Jed Rakoff had improperly rejected the $285 million settlement of the SEC’s enforcement action against Citigroup. Because the case involved the question of whether or not parties may enter into “neither admit nor deny” settlements with the…

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