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: Jim Hamilton's World of Securities Regulation

By Jim Hamilton

2nd Circuit: Computer Hacking Could Be Deceptive Under 10(b)An individual who allegedly hacked into a corporate computer system and traded on adverse earnings information he obtained before its public release may have engaged in actionable deceptive conduct under Section 10(b). A 2nd Circuit panel reversed (SEC v. Dorozhko) a district court finding that the individual, while perhaps in violation of other state and federal law, had not violated Section 10(b) because he was a corporate outsider wh read more

Full post as published by Jim Hamilton's World of Securities Regulation on July 24, 2009 (boomark / email).