Law360, New York (February 4, 2014, 7:22 PM EST) -- An Illinois federal jury has rejected the the Securities and Exchange Commission's insider trading case against several former Florida East Coast Industries Inc. employees, representing another trial defeat for the commission, which has suffered several high-profile losses in recent months.
Following a nine-day trial, an eight-person jury on January 27 declined to find Rex C. Steffes and his three sons — Cliff M. Steffes, Bret W. Steffes and Rex R. Steffes — liable for violating federal securities laws when they purchased securities of Florida East Coast Industries Inc. prior to a May 8, 2007, announcement that the company was being acquired...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!