Daily Archives: August 29, 2018, 1:16 pm

SEC Charges NFL Player and Former Investment Banker With Insider Trading

The SEC alleges that after meeting at a party, Mychal Kendricks began receiving illegal tips from Damilare Sonoiki, an analyst at an investment bank who had access to confidential, nonpublic information about upcoming corporate mergers. Kendricks allegedly made $1.2 million in illegal profits by purchasing securities in companies that were soon to be acquired and then selling his positions after…

Read More

Keeping Tesla Public Won’t Save Elon Musk From the SEC—or Angry Investors | WIRED

Don’t expect the feds to get less interested in Tesla just because it has decided to stay public. “I think the SEC’s interest in Tesla has been heightened, so they’ll be kept under close watch,” says Stephen Diamond, who studies securities law and corporate governance at the Santa Clara University School of Law. In fact, the episode’s conclusion might get…

Read More

How a Ruling on Insider Trading Could Affect the Chris Collins Case – The New York Times

The Martoma decision makes proving an intent to benefit the linchpin of the government’s case. A father helping his son avoid losing hundreds of thousands of dollars is a powerful motive to disclose confidential corporate information. That may be enough for a jury to infer that the telephone call from Mr. Collins is sufficient to show he passed along confidential…

Read More