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Now Scientists Are Trading on Inside Information?

By Mark H. Astarita, Esq.

The law of insider trading is still evolving, and has been since I started practicing law 30 years ago. Back in the 1980's I was part of the team that defended an SEC civil case against an employee of a financial printer who was accused of trading on inside information that he obtained because of his position as a proofreader. After a three week trial, an appeal to the Second Circuit, and a denial of a petition for a writ of cert was denied, the misappropriation theory of insider trading was born.There have been hundreds of cases since then, involving cab drivers, truck drivers, loading dock employees, computer technicians, and more than an handful of corporate executives who have been accused of insider trading. Now we can add scientists to the list...continue to full post

Full post as published by SECLaw.com on April 01, 2011 (boomark / email).