Looking Forward After the SEC’s Victory in “Shadow Trading” Case

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Looking Forward After the SEC’s Victory in “Shadow Trading” Case

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The SEC recently secured a trial victory in SEC v. Panuwat, the so-called "shadow trading" case in which the accused individual was charged with insider trading for trading in the securities of a third company based on information he obtained about a merger between two different companies. In this alert, we review the facts and procedural history of the case, summarize the recent trial, and flag key considerations coming out of this important case.

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