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Join the Securities Litigation and Enforcement Group on LinkedInBetter the Devil You Know? Tipping Liability, Martoma and the Rise of 18 U.S.C. § 1348
First, the US Court of Appeals for the Second Circuit’s revised decision in United States v. Martoma embraced a broad theory of liability under Section 10(b) of the Securities Exchange Act and Rule 10b-5 (hereinafter, collectively, “Section 10(b)”) that prohibits a party from tipping with an “intent to benefit” the recipient. Second, when prosecutors have […]
Does Kik Stand a Chance Against the Goliath of the SEC in a US Court?
On May 28, it emerged that the creators of the kin cryptocurrency, the Kik platform, had launched what it calls the Defend Crypto fund. Establishing the new fund with an endowment of $5 million, Kik is calling on sympathetic members of the crypto community to donate cryptocurrencies, in case the initial $5 million isn’t sufficient […]