U.S. Supreme Court,
Securities
Feb. 27, 2016
Personal benefit and insider trading
The Supreme Court recently announced that it will hear U.S. v. Salman, a case that will affect scores of pending insider trading cases.
The U.S. Supreme Court's recent announcement that it will hear the case of U.S. v. Salman, 792 F.3d 1087 (9th Cir. 2015), has many in the white collar criminal defense bar wondering where the court will land on the issue of what kind of "personal benefit" a corporate insider (or "tipper") must receive in order to be liable for insider trading. Will the court side with the 2nd U.S. Circuit Court of Appeals' decision in U.S. v. Newman, 773 F.3d 438 (2d Cir. 2014), establish...
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