Insider trading is a white-collar offense that is often associated with Wall Street investors and corporate insiders who earn millions of dollars trading on information that is often not available to the public. This includes insider trading by hedge funds, consultants, and third-party research analysts. Charges of insider trading are primarily designed to prevent corporate insiders from unfairly taking advantage of, and profiting from, access to material non-public information.
The Security and Exchange Commission (SEC) prohibits insider trading under Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. 78j (the “Exchange Act”), Rule 10b-5, 17 C.F.R. Section 240.10b-5 and other statutes. This SEC Rule also prohibits securities fraud against the unsuspecting investment public.
A charge of insider trading can have serious criminal and civil consequences for the accused. In fact, frequently, the accused will face parallel investigations by both the U.S. Attorney’s Office and the U.S. Securities and Exchange Commission. In addition, local state authorities are increasingly pursuing securities fraud prosecutions, including insider trading cases.
People who are facing accusations of insider trading should consult with a criminal defense attorney before making any decisions. Even if you are considering accepting a plea deal, it is still prudent to have an insider trading defense attorney from Birrell Criminal Defense go over the facts with you, rule out the possibility that any procedural violations or evidence gaps may exist that could lead to a dismissal, and attempt to negotiate a better plea deal with the prosecutor. Contact us today to work with a team that is committed to helping you achieve the best outcome.
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