Misappropriation Theory Of Insider Trading In Talbot

Law360, New York (July 23, 2008, 12:00 AM EDT) -- The U.S. Court of Appeals for the Ninth Circuit recently ruled that J. Thomas Talbot may be held liable under the federal securities laws for trading on material inside information concerning LendingTree, Inc., even though he was not in a “continuous chain of fiduciary relationships” with LendingTree.[1]

Talbot obtained this inside information in his capacity as a director of Fidelity National Financial, Inc., a large LendingTree shareholder. While the Court did not rule on the issue of materiality, it did reverse the lower court’s order for...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.