July 29, 2014 1:00 p.m. – 2:00 p.m. (E.D.T.)
On May 30, 2014, a ten-person jury in the Southern District of New York returned a unanimous verdict in favor of the defendants in SEC v. Obus, one of the longest-running insider trading cases in history. Gibson, Dunn & Crutcher LLP represented Nelson Obus, a New York-based hedge fund manager, in the SEC’s trial against him and two co-defendants for allegedly trading in the securities of SunSource, Inc. on the basis of material non-public information that the company was about to be sold. The jury’s verdict marks the end of a long fight by Mr. Obus to clear his name. The SEC first subpoenaed Mr. Obus and his co-defendants, as well as his hedge funds, in 2002 and filed the complaint in 2006. Gibson Dunn succeeded in winning summary judgment in the case in 2010, a ruling that was reversed by the Second Circuit two years later. Defendants proceeded to trial in May 2014, and the jury’s unanimous verdict came on May 30, 2014, after just one day of deliberations.
Please join Joel M. Cohen and Mary Kay Dunning of Gibson, Dunn & Crutcher LLP as they discuss:
- The classical and misappropriation theories of insider trading
- Strategies for defending clients during the SEC investigation phase
- Exploring case theories during discovery
- Developing offensive trial themes
- Countering SEC trial tactics
- Dealing with old evidence and witness testimony
- Tippee liability under SEC v. Obus
- The SEC’s plan to pursue more insider trading actions administratively
Register now and don’t miss this important free briefing!