Tag Archives: insider trading liability

Guest Post: Divided Second Circuit Panel Overrules Prior Newman Insider Trading Decision

One issue with which courts dealing with insider trading cases have struggled is how to interpret and apply the personal benefit element of the liability standard. The personal benefit standard was in fact an important part of the U.S. Supreme Court’s 2016 decision in Salman v. United States (as discussed here). Last week, the Second … Continue Reading

Supreme Court: Gift of Insider Information to Friends and Family Supports Insider Trading Conviction

In one of the most watched business cases on the U.S. Supreme Court’s docket this term, the Court on December 6, 2016 unanimously affirmed the Ninth Circuit’s ruling upholding the insider trading conviction of Bassam Salman. Salman had traded on tips he received from the brother of a former Citigroup investment banker; Salman himself was … Continue Reading
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