When Is a Promise Enough?: Contractual Duties and Insider Trading

Two criminal appeals before the Second Circuit require the Court of Appeals to decide whether the violation of a fiduciary relationship is required to create insider trading liability or if a breach of contract is sufficient.

7 minute read February 01, 2020 at 12:09 AM

Telemachus P. Kasulis

When Is a Promise Enough?: Contractual Duties and Insider Trading

Imagine this: A man takes a job as a security guard for a wealthy executive. His duties include answering phone calls and printing emails containing information about the executive's company.

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