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SEC v. Galleon Mgmt., LP, 09 Civ. 8811

On October 16, 2009, the Securities and Exchange Commission (SEC) instituted a civil injunctive action in the United States District Court for the Southern District of New York charging Raj Rajaratnam and his hedge fund advisory firm Galleon Management LP with perpetrating a massive insider trading...

Delaware Corporate Law and the New Litigation Against Berkshire Hathaway, Warren Buffett, et al.

Kirby v. Sokol, et al., Del. Ch. No. 6392, is the caption of a lawsuit filed earlier this week in the Delaware Court of Chancery which arises out of the recent resignation of the heir apparent to the Oracle of Omaha, Warren Buffett, based on widely-reported allegations in the mainstream press and...

The Indictment of S.A.C. Capital Advisors: Where Was The Auditor?

What a difference a week makes. In the space of only seven days, the Securities and Exchange Commission charged Steven Cohen, owner of hedge fund S.A.C. Capital Advisors, with “failing to supervise two senior employees and prevent them from insider trading under his watch,” and the Department...

Insider Trading

insider trading securities

Chancery Addresses State Law Insider Trading Claim for Second Time in Two Weeks

Silverberg v. Gold , C.A. No. 7646-VCP (Del. Ch., Dec. 31, 2013) [ an enhanced version of this opinion is available to lexis.com subscribers ]. Issue addressed : This Chancery opinion addressed a state law insider trading claim, called a Brophy claim in Delaware. This is the second time in as many...