Outside Publication

Putting The Brakes On Newman: 3 Recent Rakoff Decisions, Law360

July 30, 2015

The Second Circuit’s landmark decision in United States v. Newman has unleashed a flood of commentary predicting a sea change in insider trading prosecutions.

But Newman’s holding arguably raises as many questions as it answers, notably over what level of evidence is needed to show that an insider who disclosed material nonpublic information (MNPI) in breach of a fiduciary duty did so in exchange for a "personal benefit."

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