Insider Trading Liability Broadened

Last week, prosecutors rejoiced when the U.S. Supreme Court decided an insider-trading case called Salman v. United States, and in doing so clarified that leaking confidential information so that friends and relatives can make money in the stock market is a crime, even when the leaker doesn’t get an economic benefit.

From The New Yorker with local color related to the jurisprudence of the trial judge whose legal theory was adopted.

The decision was, however, quite a narrow one.