By Porter Wright on On Wednesday, April 6, 2011, authorities arrested Matthew Kluger (a former associate at Wilson Sonsini Goodrich and Rosati) and Garrett Bauer (a Wall Street trader) and charged them with conspiracy, insider trading and obstruction of justice in connection a years-long scheme to capitalize on material nonpublic information obtained from Mr. Kluger’s law firm. The two … Continue Reading
By Porter Wright on In March 2011, an individual accused of participating in an insider trading scheme filed a Complaint against the SEC in federal court in New York, arguing, among other things, that the SEC should be enjoined from retroactively applying the provisions of the Dodd-Frank Act in an administrative proceeding against him. On Friday April 1, 2011, … Continue Reading
By Porter Wright on The SEC has promised to react faster and more efficiently to information provided by self-regulating organizations concerning insider trading. The promise follows a critical report of the SEC conducted by the Government Accountability Office, the investigative arm of Congress. For over 70 years the SEC has shared its investigative powers regarding securities trading irregularities with … Continue Reading
