We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

2nd Circ. Affirms Ex-Brokers' IBM Insider Trading Verdict

Law360 (February 13, 2018, 6:52 PM EST) -- A Second Circuit panel Tuesday upheld a verdict against a pair of former brokers found liable for insider trading in connection with a $1.2 billion IBM deal, ruling that the jury was not required to find their testimony credible.

The Second Circuit affirmed a jury verdict finding two ex-brokers liable for insider trading in a case brought by the SEC that alleged they unlawfully traded SPSS stock in the run-up to an announcement of IBM's purchase. (AP) In a unanimous, unpublished decision, the panel affirmed the 2016...
To view the full article, register now.




Case Information

Case Title

U.S. Securities and Exchange v. Payton

Case Number



Appellate - 2nd Circuit

Nature of Suit

1850 STATUTES-Secur Comm Exchange

Date Filed

January 30, 2017

Law Firms


Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.