Parties Debate Reach Of Dirks For Insider-Trading Claims

Mealey's (August 26, 2016, 12:55 PM EDT) -- WASHINGTON, D.C. — The U.S. government and a convicted inside trader debated recently whether the U.S. Supreme Court’s ruling in Dirks v. SEC (463 U.S. 646 [1983]) extends to limiting insider trading under Section 10(b) of the Securities Exchange Act of 1934 and tipping liability to situations where the tipper sought to make money from the fraud in merits briefs filed in the Supreme Court (Bassam Yacoub Salman v. United States of America, No. 15-628, U.S. Sup.; 2016 U.S. S. Ct. Briefs LEXIS 2815).

A federal...
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