Outside Publication

Changed Landscape in Insider Trading Law: Second Circuit’s Newman Decision

New York Law Journal

December 19, 2014

The U.S. Court of Appeals for the Second Circuit recently issued a ground-breaking decision in United States v. Newman, finding that to be guilty of insider trading, a tippee of material non-public information (MNPI) must know that the insider who conveyed the information (on which trades were made) did so in exchange for a personal benefit.

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This article was originally published by Bingham McCutchen LLP.