SAC Trader, Gov't Disagree Over Salman In 2nd Circ. Case

Law360, New York (January 9, 2017, 5:58 PM EST) -- The federal government and former SAC Capital Advisors LP manager Mathew Martoma butted heads in the Second Circuit on Friday over how the U.S. Supreme Court’s recent decision in the Salman insider trading case affects Martoma’s challenge to his own conviction for trading on inside information.

The Justice Department said the high court’s ruling in United States v. Salman strengthens Martoma’s conviction because it clarifies that a personal benefit can include a gift of confidential information when passed between trading relatives or friends, while Martoma insisted...
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.