Subscribe

Join Us On LinkedIn

As we indicated in our takeaways to our previous article, relationships will remain at the forefront of parties’ arguments and defenses. This remains true today because, as the dissent stated and the majority acquiesced, “Newman remains good law.” Yet whether such analysis will be undercut by the majority opinion in Martoma likely depends on whether […]
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 […]
For much of five days of deliberations, a jury that ultimately convicted former Perella Weinberg Partners LP managing director Sean Stewart of insider trading was stuck on one important question. What did he get out of it? via Sean Stewart Jurors Were Hung Up on ‘What Did He Get Out of It?’ – Bloomberg
Watching developments in the Level Global insider trading case — which fell apart after the Second Circuit’s landmark decision in Newman resulted in the conviction of its co-founder and another defendant being overturned — feels like watching a movie rewind. via Level Global Case Continues to Rewind | Compliance Week
Bharara said news reports calling this a major setback amounted to modern “yellow journalism” and belied the nature of his office’s work in prosecuting cases based on the state of the law. “If Congress tomorrow adopted The Wall Street Journal editorial page’s view that insider trading is awesome — which appears to be their view […]
… But the truth is that if you operate a hedge fund and care to structure your business around the gaping loopholes that the Supreme Court has implicitly endorsed, insider trading is now effectively legal in the United States. via Making Insider Trading Legal – The New Yorker
Manhattan US Attorney Preet Bharara on Thursday dismissed all charges against Michael Steinberg, who was convicted by a federal court jury in December 2013 of five counts of insider trading. The move by Bharara was not unexpected, as similar verdicts against Anthony Chiasson and Todd Newman, traders at two other hedge funds, were overturned by […]
The Supreme Court announced this week that it will let stand the Second Circuit’s landmark insider trading decision in U.S. v. Newman. Hillary Clinton, however, says that as President she would not do the same, and that she would propose legislation to “clarify” the law post-Newman. via Hillary Clinton Pledges to Redefine Insider Trading, Self-Fund […]
US attorney for Manhattan Preet Bharara warned of a “bonanza” for friends and family of the rich after the Supreme Court declined to hear a Department of Justice request to reverse two overturned convictions on insider trading. via Preet Bharara warns of insider trading ‘bonanza’ – FT.com
Today, the the U.S. Supreme Court specifically included the landmark insider trading case of U.S. v. Newman on a lengthy list of cases in which the Court denied certiorari (will not hear on appeal). The Court’s refusal to hear the case means that Newman will continue to pose a major, often insurmountable obstacle to the […]