Fidelity Director May Be Liable For Insider Trading
National News
The 9th Circuit reversed and remanded a ruling for attorney J. Thomas Talbot, a member of the board of directors of Fidelity National Financial, who was accused of insider trading by the Securities and Exchange Commission.
Judge Wardlaw found that Talbot may be held liable for misappropriating confidential information that a third party was looking to buy LendingTree - a deal which would allegedly net Fidelity $50 million as a shareholder. Talbot bought 10,000 shares of LendingTree after finding out about the impending acquisition.
The court considered Talbot's actions insider trading, even though Fidelity's CEO never told the board of directors that the information was confidential.
Talbot can be held liable for misappropriating the information from Fidelity, the court ruled, but the case heads back to the district court to settle whether that information was "material" under the law.
Related listings
-
NY Sets Bar High for Adult Victims of Predatory Clergy
National News 06/30/2008New York’s highest court has set the bar prohibitively high for proving certain civil cases against predatory clergy by ruling that a woman cannot sue a rabbi who had an affair with her because she was not “uniquely vulnerable and incapable of self-p...
-
"Parrot Fever" Suit May Not Fly
National News 06/27/2008The family of a Texas man who allegedly died of a disease contracted from a sick cockatiel has sued PetSmart for wrongful death, but the fate of similar cases around the country suggests their products liability theory will not fly.The cockatiel that...
-
Naked Cowboy Sues M&M's
National News 06/24/2008"This is the case of The Naked Cowboy versus The Blue M&M," afederal judge wrote in allowing The Naked Cowboy's lawsuit against Marscandy and Chute Gerdeman ad agency to proceed. "Plaintiff Robert Burckis a 'street entertainer' who performs in Ne...
Experienced Business Law Attorneys - Business Law Attorneys in Chicago, Illinois
U.S. Citizenship and Immigration Services (USCIS) announced today that it is clarifying policy guidance (PDF, 71 KB) on the specific work activities its officers should consider when determining whether an individual qualifies for TN nonimmigrant status as an economist.
Companies of all sizes have to deal with a lot of bureaucracy and paperwork just to do business. Long gone are the days of simply designing and manufacturing a great product and putting it out there. It can be incredibly overwhelming trying to do business without making yourself vulnerable to a lawsuit.
If you need to craft an agreement between you and investors or business partners, it is prudent to have it reviewed by a business attorney before you sign anything. You may also want to have your vendor contracts, office leases, sales agreements, and other types of agreements looked over as well. From start-ups to established corporations, the Chicago business attorneys at the Roth Law Group have the know-how to help businesses keep legal trouble at bay.
The attorneys at the Roth Law Group have helped their clients at every stage of the business creation and operation process. From registering as a legally-recognized business entity to hiring employees and then copywriting or trademarking a product idea, the right guidance in the beginning can keep you out of trouble later on.