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Wyly Brothers Found Liable in SEC Fraud Case

On Monday, a New York federal jury found that Sam Wyly and his late brother Charles Wyly Jr. committed civil fraud by hiding share holdings in offshore trusts for over 13 years. The SEC sued the Wylys in 2010, after a six-year investigation.  The SEC alleged that the brothers used trusts and other entities in […]

Insider Trading 2.0: The Expanded Definition of Insider Trading

Insider trading focuses on the impropriety of obtaining and trading on material nonpublic information, or providing such information to another person in breach of a duty of trust and confidence. Recently, however, Eric T. Schneiderman, the New York State Attorney General, vowed to expand that definition to include what he calls “insider trading 2.0.”  By cracking […]