Securities,
Administrative/Regulatory
Oct. 3, 2015
Newswire hack may not violate securities law
In August, SEC brought a large enforcement action against 32 defendants for hacking into networks of newswire services, but the alleged conduct may not have violate federal securities law.
Mary Ellen Callahan
The Walt Disney CompanyEmail: mary.ellen.callahan@disney.com
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In August, the Securities and Exchange Commission brought the largest enforcement action against 32 defendants alleging they hacked into the networks of at least two newswire services, stealing their crown jewels - previously undisclosed information about U.S. public companies - and trading on the stolen material nonpublic information before it was communicated to the public. While the stolen infor...
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