At a Dealbook conference this week, Mary Jo White, the chairwoman of the S.E.C., fretted that the Second Circuit’s ruling was “overly narrow.” And, in his statement after the ruling, Bharara said that he feared it would “limit the ability to prosecute people who trade on leaked inside information.”
That’s true, of course, if you agree with their definition of insider trading. Unfortunately for them, the courts don’t.
‘Enforcement 40’ for 2020
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