Hot off the presses and under the radar: E.D.Va. Judge Claude M. Hilton yesterday ordered a rare (perhaps unprecedented) directed verdict against the SEC in favor of an insider trading tippee defendant. (The tippee, though he never traded or profited, settled with the SEC a month before trial, neither admitting nor denying wrongdoing.)
Yes, you read that right – after the SEC rested, Judge Hilton stopped the SEC dead in its tracks. The defendant never even had to present his case and the case never went to the jury.
Source: (50) Post | LinkedIn
