Discovery Communications Exec Beats Insider-Trading Suit

Law360, New York (August 9, 2011, 2:24 PM EDT) -- A federal judge in New York on Monday dismissed a shareholder's insider-trading suit against a former director of Discovery Communications Inc., finding no merit to the novel theory of short-swing liability under the Securities Exchange Act.

U.S. District Judge Barbara S. Jones found that defendant John C. Malone did not execute an illegal short-swing transaction when he bought and sold Discovery equity securities within a two-week period in 2008 — allegedly realizing more than $300,000 profit in the process — because the securities were of two...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Gibbons v. Malone et al


Case Number

1:10-cv-08640

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Barbara S. Jones

Date Filed

November 15, 2010

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.