SEC Suit Over CDS Insider Trading Edges Toward Trial

Law360, New York (December 10, 2009, 7:11 PM EST) -- In what the U.S. Securities and Exchange Commission has called the first insider trading case involving credit default swaps, a federal judge decided Thursday that questions persist regarding whether the disputed swap agreements are based on securities, paving the way for a bench trial on the SEC's claims.

Judge John G. Koeltl of the U.S. District Court for the Southern District of New York denied motions for judgment on the pleadings filed by defendants Jon-Paul Rorech and Renato Negrin, who stand accused of improperly trading on...
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