Use vs. Possession in Insider Trading Cases
Steven R. Glaser and Raymond Bilderbeck of Skadden, Arps, Slate, Meagher & Flom discuss the SEC's attempt to resolve questions about the requisite knowledge necessary to impose liability for insider trading offenses, the arguments suggesting that the SEC exceeded its authority in enacting the regulation, and more recent developments in the debate, including distinctions that have been drawn between civil and criminal enforcement actions, and the reluctance of courts to embrace the full scope of Rule 10b5-1.Entrapment Claim Rejected in Upholding Conviction of Terror Suspects
Issues Arising From Corporate Acquisition
In his Contract Law column, Glen Banks, a partner at Fulbright & Jaworski, writes: In Emposimato v. CIFC Acquisition Corp., the First Department affirmed rulings in a lengthy and detailed opinion by Justice Bernard J. Fried that addressed various contract law points arising from a corporate acquisition. The case illustrates issues that can arise when the parties agree to a transaction subject to satisfaction with subsequent disclosure and investigation.Statements in Civil Matter Lead to Unsealing in Criminal Case
A car dealership employee who has been linked to a Russian gangster waived the protection of a seal on a criminal plea he took in a fraud case when he told a story in a related civil litigation that contradicted the criminal plea, a state judge has ruled.Administration Faces Tough Questions Over Health Care Law
At the end of fast-paced arguments in a courtroom packed with press, politicians and the public, the fate of the controversial so-called individual mandate to buy health insurance seemed to rest with two justices: Chief Justice John Roberts Jr. and Justice Anthony Kennedy.A New Chapter 11 Could Impair Creditor Rights
In their Secured Transactions column, Alan M. Christenfeld, senior counsel at Clifford Chance, and Barbara M. Goodstein, a partner at Mayer Brown, write: The current version of the U.S. Bankruptcy Code, which has been in effect since 1978, has been the only federal bankruptcy law that most secured transactions and workout professionals now in practice have ever needed to know. That may change in the not-too-distant future, however, if the American Bankruptcy Institute has anything to say about it.Lippman Names 28 to Task Force to Expand Access to Legal Services
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