Morgan Lewis partner David Miller, a former prosecutor in the Southern District of New York, talks with Mimesis Law’s Lee Pacchia about how the U.S. Supreme Court’s possible decision in Salman v. United States would make it much harder for prosecutors to obtain convictions in insider trading cases and that it could lead to Congress passing new legislation actually defining insider trading, something that currently does not exist.
Mr. Miller explains that if Salman prevails at the Supreme Court, the entire legal and regulatory framework of insider trading could be called into question.