David R. Chase, P.A.
Call Us Now: 800-760-0912
David R. Chase, P.A.
Call Us Now: 800-760-0912

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SEC SUFFERS RECENT DEFEATS IN INSIDER TRADING PROSECUTIONS

The Securities and Exchange Commission is not always successful in its insider trading prosecutions.

In June of this year, the SEC lost its second insider trading trial within a week when a jury in federal court found a former chief executive of a technology chip company not liable for insider trading. In 2012, the SEC filed a lawsuit against Manouchehr Moshayedi alleging he traded on the basis of material, non-public information and made false statements in connection with the sale of $268 million of company stocked owned by him and his brother, also a founder of the company. His brother was not charged by the SEC.

Just prior to this stinging defeat, the SEC dismissed an insider trading case on its own, and then lost another insider trading trial against a hedge-fund manager.

These recent failed insider trading prosecutions by the SEC clearly demonstrates how difficult it can be for the SEC to prove beyond a preponderance of evidence what are, in many instances, cases based solely upon circumstantial evidence.

If you are under investigation, or have been sued, by the SEC for insider trading, call David R. Chase, Esq. for a confidential, no-cost consultation, at: 954-920-7779.

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