SEC Loses Insider Trading Case Against Cisco Retiree

Law360, New York (January 10, 2014, 2:46 PM EST) -- A Georgia federal judge on Tuesday dismissed a U.S. Securities and Exchange Commission insider trading case against a former Cisco Systems Inc. employee, accusing the agency of interpreting circumstantial evidence in an “overreaching, self-serving” manner.

U.S. District Judge William Duffey said the SEC had failed to meet its burden of proof in a bench trial against Larry Schvacho, who retired from Cisco in 2009. The agency alleged he later traded on a tip from Comsys IT Partners Inc. CEO Larry Enterline that the employment services firm...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Schvacho


Case Number

1:12-cv-02557

Court

Georgia Northern

Nature of Suit

Securities/Commodities

Judge

William S. Duffey, Jr

Date Filed

July 24, 2012

Law Firms

Companies

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.