05.05.15 | Articles
Same Facts, Different Results: Civil and Criminal Liability After ‘Newman'
New York Law Journal
The Second Circuit’s decision in United States v. Newman continues to have a significant impact on insider trading cases. In this article, we discuss Judge Rakoff’s recent decision in SEC v. Payton, compare the mental state requirement in criminal and civil insider trading cases, and consider Judge Rakoff’s recent suggestion, in a talk at NYU Law School, that civil and criminal insider trading should be addressed in two separate statutory provisions.