Rakoff Ruling May Help SEC Frame Insider Trading Claims

Présentation


Eugene Goldman said that a new district court ruling “may likely be used by the SEC as guidance on how to frame a complaint” on insider trading to conform to the landmark Newman decision regarding insider trading. The new ruling “also tells the SEC that they have a pleading burden to address on what Newman requires. I believe there will be cases where they will not be able to do that,” Mr. Goldman added.