SEC’s Insider Trading Evidence Supports Summary Judgment Ruling, Panel Rules

(January 3, 2020, 9:27 AM EST) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on Dec. 17 ruled that a federal district court did not err in granting the Securities and Exchange Commission’s motion for summary judgment in an civil enforcement action stemming from an alleged insider trading scheme because the SEC provided “unrebutted evidence” that showed that an analysts trades based on inside information “were unlawful” (Securities and Exchange Commission, et al. v. John Afriyie, No. 19-17, 2nd Cir., 2019 U.S. App. LEXIS 37856)....