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Over the years the misappropriation theory, emerged to address insider trading liability when an "outsider" to the company is buying or selling securities based on "insider" information he or she obtained due to a misuse of confidential information with whom he or she has a relationship. In his expert commentary, Professor James Fanto of Brooklyn Law School examines the special problem family members who are not employed by the corporation, but, due to their personal relationship with the insider, have posed for the enforcement of the federal securities laws prohibiting trading on insider information.
Expert Commentary ( $ Additional charges apply)