Is Everything Securities Fraud?

Securities litigation is almost inevitable for any public company.  Often, investors sue because the firm’s managers engaged in fraud that directly harmed the shareholders – say, by doctoring the firm’s financials or lying about known business prospects.  However, shareholders also …

Explaining Dirks

Dirks v. SEC established the fraud claim for tipping as part of the insider trading prohibition in the federal securities laws.  An essential element of the claim was proof that the insider personally benefited from disclosing confidential information to the …