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On Tuesday, December 6, the Supreme Court handed down a unanimous opinion in Salman v. United States affirming the judgment of the U.S. Court of Appeals for the Ninth Circuit. This insider trading case considered whether a personal benefit can be established by the fact that a tippee shared a close family relationship. The teleforum recapped Justice Alito's opinion for the Court which held the Court's prior decision in Dirks v. SEC "allowed the jury to infer that the tipper here breached a duty because he made a 'gift of confidential information to a trading relative.'"


  • Todd F. Braunstein, Global Head of Legal Investigations, Willis Towers Watson