Edward Imperatore, Haimavathi Marlier, Craig Martin, Val Dahiya, Jackie Liu and Scott Lesmes

What the SEC’s “Shadow Insider Trading” Trial Means for In-House Counsel

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On April 5, 2024, a jury in California federal court found a former corporate executive liable for insider trading in SEC v. Panuwat, a novel enforcement action involving a theory known as “shadow trading.” In Panuwat, the U.S. …