SEC Can't Get Ex-Analysts' Passwords In Insider Trading Suit

Law360, New York (September 23, 2015, 10:30 PM EDT) -- Two former Capital One employees accused of stock fraud can withhold their smartphone passwords from the U.S. Securities and Exchange Commission, a Pennsylvania federal judge ruled Wednesday, setting back the regulator's pursuit of claims that the fraud analysts repurposed secret credit-card transaction data to play the stocks of large retailers.

The SEC has accused Bonan Huang and Nan Huang, Capital One Financial Corp. employees until January, of accessing highly confidential credit-card transaction data to deduce whether a given retailer's sales were rising or falling, and of...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

SECURITIES AND EXCHANGE COMMISSION v. HUANG et al


Case Number

2:15-cv-00269

Court

Pennsylvania Eastern

Nature of Suit

Other Statutes: Securities/Commodities

Judge

MARK A. KEARNEY

Date Filed

January 21, 2015

Law Firms

Companies

Government Agencies

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.