U.S. Supreme Court,
Securities
Feb. 24, 2021
Landmark insider trading case vacated in light of Bridgegate ruling
At this stage, it is unclear whether the 2nd Circuit will change its ruling on remand. The Supreme Court’s decision may signal that it views Kelly as a further limitation on the meaning of “property” for federal fraud statutes.
Matthew E. Sloan
Partner
Skadden, Arps, Slate, Meagher & Flom LLP
Email: matthew.sloan@skadden.com
Matthew is a partner in the Litigation and Government Enforcement Practice in Skadden's Los Angeles Office.
Emily Ludmir Aviad
Counsel
Skadden, Arps, Slate, Meagher & Flom LLP
Emily is counsel in the Litigation and Government Enforcement Practice in the firm's Los Angeles office.
Matthew J. Tako
Associate
Skadden, Arps, Slate, Meagher & Flom LLP
Email: matthew.tako@skadden.com
Matthew is an associate in the Litigation and Government Enforcement Practice in the firm's Los Angeles office.
In United States v. Blaszczak, one of the more closely watched insider trading prosecutions in recent years, the U.S. Supreme Court recently issued an order granting certiorari, vacating the 2nd U.S. Circuit Court of Appeals' 2019 judgment affirming an insider trading conviction, and remanding the case back to the circuit court "for further consideration in light of $95
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