The Department of Justice today appealed the Second Circuit's Newman decision to the U.S. Supreme Court, after several extensions. United States v. Newman, No. 15-137 (U.S. filed July 30, 2015). Last December's ruling narrowed the scope of tippee liability in insider-trading cases. The latest extension of the cert-petition deadline resulted in a bit of row, when the government hand-delivered the request June 15 and Justice Ginsburg granted it June 16, (extending the filing deadline to August 1). But Newman's counsel apparently wasn't even served with the government's request ...
Short fish, Long fish, Red fish, Gone fish.[1] Old fish, New fish,[2] Red fish, Few fish.[3] This one is tangible,[4] That one's an object[5] The evidence was tampered.[6] Say, wasn't investigation hampered?[7] "Records" and "files" With Latin canon wiles What does it say? No! Don't read it that way.[8] Verbs and nouns[9] Dissenters frown[10] Four plus one, The statute's done.[11] (with apologies to Theodor Geisel). Thomas K. Potter, III (tpotter@burr.com) is a partner in the Securities Litigation Practice Group at Burr & Forman, LLP. Managing Partner of the Nashville ...
Earlier this week, the U.S. Supreme Court released its decision in Halliburton Co. v. Erica B. John Fund, Inc., (U.S., No. 13-317)( Halliburton II), and for a second time vacated a decision by the Fifth Circuit on whether the case should proceed as a class action. The plaintiff in the Halliburton case alleges that defendants made misrepresentations that were designed to inflate Halliburton's stock price in violation of § 10(b) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5. In Halliburton II, in seeking reverse the lower court's ...