Analysis

Insider Trading Case Aided By New Tech, Hobbled By Newman

Law360, New York (August 17, 2017, 9:31 PM EDT) -- Federal prosecutors and the U.S. Securities and Exchange Commission on Tuesday announced their largest insider trading case in years against a former Bank of America employee and six associates, and experts say the charges illustrate the power of the SEC's new data analysis tools as well as the continuing influence of the Second Circuit's Newman decision.

Prosecutors charged seven people involved in the scheme, alleging former Bank of America technology consultant Daniel Rivas passed information about mergers and tender offers to his girlfriend's father, a former treasurer for broker Tullett Prebon; an official for a local of the United Food and...

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