In December 2014, the United States Court of Appeals for the Second Circuit issued what has been described as a landmark decision in United States v. Newman. In its decision, the Court vacated the insider trading convictions and sentences of Anthony Chiasson and Todd Newman, two hedge fund professionals convicted of insider trading after trial in federal court in Manhattan. The decision has been greeted by the white collar defense bar as an important repudiation of the Government’s heavy handed pursuit of insider trading.
Securities Industry and Financial Markets Association "Compliance and Legal Division Seminar," "Securities Arbitration," Phoenix, Arizona
Mr. Rella is a contributing author of the Annual Broker Dealer Survey, American Bar Association (2014-2015). This Survey identifies significant court decisions and administrative proceedings before the SEC and FINRA, which involve issues relevant to broker-dealers and investment banking firms during the year 2014. Although the Survey does not purport to necessarily be comprehensive, it is intended to include all notable decisions and proceedings during 2014.
In the mass tort litigation context, where one plaintiff typically brings similar claims against numerous defendants within a particular industry, the coordination of defense efforts among codefendants can be a very prudent course of action. By banding together to develop a litigation strategy and common defense, competitor companies can pool their knowledge, expertise, and resources to achieve the most beneficial outcome for their respective clients. This practice, however, is fraught with landmines that can have a devastating effect on clients and practitioners alike.
The Milbank Tweed Forum, New York University School of Law
Murphy & McGonigle, P.C. announced today that Steven D. Feldman has joined the firm as a shareholder in its New York office. Mr. Feldman’s arrival is yet another milestone for this financial services law firm as it continues to attract top litigation and regulatory talent since first opening its doors in 2010.