Daily Archives: June 25, 2015, 11:10 am

The SEC’S “Outsider Trading” Dragnet — Cybersecurity Docket

But suppose instead, a thief, who does not work at Microsoft, breaks into Microsoft headquarters via a basement window at midnight, reads Microsoft’s CFO’s papers about an upcoming positive earnings announcement and then buys Microsoft stock before that announcement.  Is the thief guilty of insider trading?  Historically, the SEC did not charge the thief with insider trading because a thief…

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Wyly brothers’ family fights SEC asset freeze in $550 million fraud | Dallas Morning News

The Wyly brothers used gains from secret, illegal, offshore transactions “as their own personal piggybank,” the SEC had said ahead of a Wednesday appeals hearing in New York, where the family sought to lift a judge-imposed freeze on its assets. U.S. District Judge Shira Scheindlin’s order against 16 people, including both men’s wives and 10 children, unfairly applies to “any…

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