Does a defendant violate the law when they trade while in possession of non-public information material?
MultiRegion, United States of America
The following excerpt is from United States v. Whitman, No. 13-491-cr (2nd Cir. 2014):
Defendants violate the law when they trade "while in knowing possession of nonpublic information material to those trades." United States v. Royer, 549 F.3d 886, 899 (2d Cir. 2008) (internal quotation marks omitted). Relying on this rule, the district court instructed the jury that
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