In a stark reminder to thoroughly confirm your stockbroker’s background, the Securities and Exchange Commission (“SEC”) recently charged a California man with defrauding investors of millions of dollars by using a patently false persona. [1] The SEC’s complaint charged Justin Costello with violations of the anti-fraud provisions of several federal…
The SEC is attempting to broaden the scope of liability under federal insider trading laws, and it just secured its first incremental victory along the way. The win comes as a newly formulated legal theory offered by the SEC survived a motion to dismiss in SEC v. Panuwat, a case…
When it comes to insider trading, corporate executives are often the first offenders that come to mind. Recently, however, public attention has shifted toward the investing activity of members of Congress as potential instances of illegal insider trading. Members of Congress are inherently privy to more information about in-process legislation,…
Peloton Interactive Inc. (“Peloton”) is making headlines this month – but not for the reasons its shareholders might hope. After reaching a peak of $162 per share at the height of the COVID-19 pandemic in December 2020, Peloton’s share price now sits at just $27. [1] While the driving factors…