Securities,
Government
Sep. 10, 2024
No new trial after novel 'shadow trading' theory win
The allegations were the first time the theory went to trial and the jury's decision expanded the scope of insider trading regulations.
Five months after the U.S. Securities and Exchange Commission secured a significant trial win against a biopharmaceutical executive based on its novel "shadow trading" theory, a federal judge denied the defendant's bid for a new trial on Monday.
Matthew Panuwat's "onetime conduct was a serious violation of the law that deserves a remedy that will deter him and others from similar conduct, but not permanently damage his career in the way that imposition of t...
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