Does Mickelson Case Signal A New SEC Insider Trading Rule?

Law360, New York (May 24, 2016, 1:51 PM EDT) -- On Friday, the Manhattan U.S. attorney and the U.S. Securities and Exchange Commission once again filed high-profile insider trading cases after holding a press conference — standard fare for headline-grabbing actions. And, this was a headline-grabbing case: a corporate director, a Las Vegas sports gambling professional and a celebrity professional golfer. The U.S. Department of Justice and the SEC agree that the first two violated the insider trading laws. They also seem to agree that the third did not. Yet the golfer is named by the SEC as a "relief defendant." If he did not violate the insider trading laws, why is he named as a defendant at all?...

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