A Key Ruling On Materiality In Insider Trading Cases

Law360, New York (September 15, 2008, 12:00 AM EDT) -- The SEC’s efforts to curb what it considers abuses relating to trading in Private Investments in Public Equities (PIPEs) was dealt another serious blow when the Honorable Graham C. Mullen, a federal court judge in Charlotte, North Carolina, granted John F. Mangan Jr.’s motion for summary judgment and dismissed the SEC’s insider trading claim against him.

Judge Mullen, in a case of first impression, had earlier dismissed the SEC’s Section 5 claim, the only other claim in the case. [Citation: SEC Fails First Test Of Section...
To view the full article, register now.

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.