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DOJ Asks Supreme Court to Review Landmark Insider Ruling

July 30, 2015

Bloomberg
By Bob Van Voris, Patricia Hurtado and Robert Wihelm with assistance from Greg Stohr

U.S. Solicitor General Donald B. Verrilli Jr. July 30 asked the U.S. Supreme Court to reverse a December federal appeals court decision that increased the burden on prosecutors and loosened some of the restrictions on insiders passing confidential information to friends.

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“It has not resulted in opening the floodgates” to invalidate insider trading prosecutions throughout the country, said Lathrop B. Nelson III, a partner with Montgomery McCracken Walker & Rhoads LLP in Philadelphia.

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