4 Cases Show Growing Reach Of Federal Fraud Statutes

Law360 (March 23, 2020, 5:01 PM EDT) -- Since the U.S. Supreme Court’s decision in Dirks v. U.S. Securities and Exchange Commission,[1] lawyers and judges alike have grappled with the precise boundaries of insider trading liability in the absence of a specific statute prohibiting trading on material nonpublic information.

A recent decision by the U.S. Court of Appeals for the Second Circuit paves the way for prosecutors to avoid that messiness by charging insider trading with a seldom-used securities fraud statute dating back to the collapse of Enron Corp. and the Sarbanes-Oxley Act: Title 18 of U.S. Code Section 1348.

In U.S. v. Blaszczak,[2] the Second Circuit ruled that...

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!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!