Salman v. US
Published on:
May 13, 2016
SIFMA has submitted an Amicus “Friend of the Court” Brief.
Court:
U.S. Supreme Court
Amicus Issue:
Whether the personal benefit to the insider that is necessary to establish insider trading under Dirks v. SEC requires proof of “an exchange that is objective, consequential, and represents at least a potential gain of a pecuniary or similarly valuable nature,” as the Second Circuit held in US v. Newman, or whether it is enough that the insider and the tippee shared a close family relationship, as the Ninth Circuit held in this case.
Counsel of Record:
Sidley Austin LLP
Carter G. Phillips
Kwaku A. Akowuah
Rebecca S. Levenson
A. Robert Pietrzak
Joseph McLaughlin
Daniel A. McLaughlin
Other Amici:
None.