A new paper by Baker & Hostetler LLP attorneys Marc D. Powers, Jonathan A. Forman and Jonathan D. Blattmachr examines the impact of the Second Circuit’s decision in Martoma. The court in Martoma overruled the prior panel decision in Newman, which had tightened the requirements for prosecutors in insider trading cases, and held instead that the "meaningfully close personal relationship" requirement emphasized in Newman was no longer viable after the Supreme Court’s decision in Salman. The authors trace Salman’s narrow holding to its roots in Dirks and then look ahead to how Martoma may apply in practice if, as the authors suggest, Martoma is not first reconsidered by the Second Circuit or potentially clarified by the Supreme Court.
To view the full paper, please click here.
Attorneys: Marc D. Powers, Jonathan A. Forman and Jonathan D. Blattmachr (Baker & Hostetler LLP).
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