L-R : Peter C. Angelica, Hadassa Waxman, Joshua M. Newville of Proskauer Rose. Courtesy photosA New Era of Enforcement on 10b5-1 Trading Plans: Implications of United States v. Peizer
The authors write "This past June the U.S. Department of Justice (DOJ) secured its first insider trading conviction relating to the defendant’s use of a Rule 10b5-1 trading plan. The jury’s verdict in United States v. Peizer marks a major milestone in securities law enforcement. In particular, the Peizer case puts pressure on the defense that 10b5-1 plans provided corporate insiders. Separately, the verdict suggests a new era of enforcement priorities and tactics, and provides instructive insights for practitioners and professionals."
December 11, 2024 at 12:12 PM
8 minute read
This past June the U.S. Department of Justice (DOJ) secured its first insider trading conviction relating to the defendant’s use of a Rule 10b5-1 trading plan. The jury’s verdict in United States v. Peizer marks a major milestone in securities law enforcement. In particular, the Peizer case puts pressure on the defense that 10b5-1 plans provided corporate insiders. Separately, the verdict suggests a new era of enforcement priorities and tactics, and provides instructive insights for practitioners and professionals.
Background on Rule 10b5-1 Trading Plans
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