As the jury considers the fate of Raja Rajaratnam in the largest insider trading case brought in years, the Commission continued to implement Dodd-Frank, issuing more proposed rules. The Supreme Court heard oral argument this week in a case which may significantly impact the class certification process in securities class actions.
Insider trading continued to dominate securities litigation. A defendant in the expert network cases pleaded guilty. The Commission filed a settled insider trading case against a former hedge fund manager and partially settling another. And, in an administrative proceeding an initial decision was rendered against the Respondent fund employee in an insider trading action.
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