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Browse: Home / Appellate

Appellate

U.S. Supreme Court rejects insider trading appeal by Las Vegas gambler – Reuters

By Securities Docket on October 7, 2019, 4:04 pm

The U.S. Supreme Court on Monday refused to hear Las Vegas sports gambler William “Billy” Walters’ appeal of his 2017 insider trading conviction that landed him a five-year prison sentence in a case that also drew attention because of his ties to billionaire investor Carl Icahn and golfer Phil Mickelson. Walters had asked the justices […]

Posted in Criminal, Top | Tagged Appellate

Federal court to hear ‘Pharma Bro’ Martin Shkreli’s appeal – Reuters

By Securities Docket on June 28, 2019, 10:34 am

Lawyers for former pharmaceutical executive Martin Shkreli will urge a federal appeals court on Friday to overturn his criminal conviction for defrauding investors in hedge funds he founded. via Federal court to hear ‘Pharma Bro’ Martin Shkreli’s appeal – Reuters.

Posted in Criminal, Top | Tagged Appellate

D.C. Circuit Tells SEC That a Negligent Omission Can’t Be Willful | Insights | Sidley Austin LLP

By Securities Docket on May 3, 2019, 9:46 am

A decision this week by the U.S. Court of Appeals for the D.C. Circuit rejected the traditional approach of the Securities and Exchange Commission that “willful” conduct is a low standard that simply means that a respondent knows what he or she is doing. On April 30, in The Robare Group, LTD. v. SEC, No. […]

Posted in SEC, Top | Tagged Appellate

US court rejects Goldman Sachs Rajat Gupta’s bid to overturn insider-trading conviction – The Economic Times

By Securities Docket on January 8, 2019, 8:50 am

The Second Circuit Court of Appeals, in an order issued Monday, said “we have considered all of Gupta’s arguments on this appeal and have found them to be without merit. The judgment of the district court is affirmed.” Gupta, 70, is a free man now after completing a prison term in 2016 on insider trading […]

Posted in Criminal, Top | Tagged Appellate, Gupta

Conviction of SAC’s Martoma upheld despite jury instructions | Reuters

By Securities Docket on June 25, 2018, 12:03 pm

In an unusual 2-1 decision, the 2nd U.S. Circuit Court of Appeals, which had upheld Martoma’s conviction and nine-year prison term in August 2017, withdrew its finding at that time that the jury instructions were “not obviously erroneous.” It said the instructions wrongly allowed a conviction solely on evidence that a Michigan doctor had tipped […]

Posted in SEC, Top | Tagged Appellate

Jailed Ex-Perella Banker May Be Freed in Insider-Trading Appeal – Bloomberg

By Securities Docket on June 20, 2018, 11:22 am

A former Perella Weinberg Partners LP banker convicted of tipping his father to five health-care mergers may be the latest insider-trader to win his freedom, as another case threatens to fall apart on appeal. In an unusual request that signals the court may have decided to overturn all or part of Sean Stewart’s conviction, a […]

Posted in Criminal, Top | Tagged Appellate, Insider Trading

Lynn Tilton Wins SEC Fraud Trial She Had Worked Hard to Avoid – Bloomberg

By Securities Docket on September 27, 2017, 4:53 pm

SEC administrative law judge Carol Fox Foelak ruled in favor of Tilton over allegations that she and her firm, Patriarch Partners LLC, bilked investors out of more than $200 million. “It is concluded that the violations” alleged by the SEC are “unproven,” Foelak wrote in her ruling issued Wednesday. “Thus, the proceeding will be dismissed.” The […]

Posted in SEC, Top | Tagged ALJs, Appellate

The Martoma Decision: The Second Circuit Tackles Insider Trading Post-Salman | The National Law Review

By Securities Docket on August 25, 2017, 10:45 am

The US Court of Appeals for the Second Circuit issued another landmark insider trading opinion on August 23. In United States v. Martoma, the Second Circuit loosened the standard required for the government to establish tipping liability, handing the government a significant victory in this key enforcement area. Martoma is the latest in a string […]

Posted in Criminal, SEC, Top | Tagged Appellate, Insider Trading, Martoma

In a Boon to Prosecutors, Insider Trading Ruling Is Reshaped – The New York Times

By Securities Docket on August 24, 2017, 3:04 pm

The decision of the United States Court of Appeals for the Second Circuit in Manhattan in United States v. Newman, which roiled the world of insider trading when it was announced in December 2014, seems to be relegated to little more than a footnote in the history of securities fraud with an opinion from the […]

Posted in Criminal, Top | Tagged Appellate, Insider Trading, Newman

Federal Court Upholds Martoma Insider-Trading Conviction – WSJ

By Securities Docket on August 23, 2017, 4:04 pm

In a 2-1 opinion, the Second U.S. Circuit Court of Appeals in Manhattan rejected Mr. Martoma’s request for a new trial, saying the jury was properly instructed. The ruling also found the government adequately showed at trial that the tipper received a financial benefit from providing inside information to Mr. Martoma, a key component of […]

Posted in Criminal, Top | Tagged Appellate, Insider Trading

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