Columbia Law School Blog Publishes Akin Gump Client Alert on SDNY Insider Trading Decision
Columbia Law School’s CLS Blue Sky blog has published the article “Akin Gump discusses SDNY Decision Allowing SEC Insider Trading Case to Proceed, Distinguishing Newman,” written by Akin Gump litigation partners Michael Asaro, James Benjamin, Joseph Boryshansky, Robert Hotz, Douglass Maynard and Douglas Rappaport; corporate partner Bruce Mendelsohn; and investment management senior counsel Jason Daniel.
The article discusses a decision by the U.S. District Court for the Southern District of New York allowing an SEC civil enforcement action to proceed against two former stockbrokers for alleged insider trading. As the authors note, the decision “sheds additional light on application of the 2nd Circuit’s decision in United States v. Newman.” That decision, “attempted to clarify and delineate the boundaries of insider trading liability in tipper-tippee scenarios.”
To read the client alert from which the article originated, please click here.