Ex-Heartland GC Says Insider Trading Liability Claims Fail

Law360, Chicago (February 12, 2013, 2:12 PM EST) -- An attorney for Heartland Advisors Inc.'s former general counsel and chief compliance officer told the Seventh Circuit on Tuesday that insider trading liability cannot be applied to mutual fund redemptions, and that the court should reverse a decision for the U.S. Securities and Exchange Commission saying otherwise.

Stephen J. Crimmins of K&L Gates LLP argued that a Wisconsin federal court erred when it rejected Jilaine Bauer's summary judgment bid and granted judgment to the SEC in its suit alleging that she engaged in insider trading in...
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