Media Coverage

Insider Tips Case Shows 3rd Circuit's Caution on Sentencings

February 16, 2018

Law360 spoke to David Axelrod of Ballard Spahr’s Securities Enforcement and Corporate Governance Litigation Group about a recent Third Circuit opinion that obviated the prison sentence for a former Simpson Thacher & Bartlett managing clerk convicted in a $5.6 million insider trading scheme. The decision is indicative of a wider pattern by the appeals court of taking a hard look at sentencing overreaches.

"It's going to really push prosecutors in the Third Circuit — and even the Second Circuit — to show evidence in cases where defendants plead guilty," Mr. Axelrod said. "They're going to need to come forward with good evidence to show the scope of an insider trading conspiracy."

Read the full article here. (Subscription may be required.)

Subscribe to Ballard Spahr Mailing Lists

Get the latest significant legal alerts, news, webinars, and insights that affect your industry.