The Forum: Insider Trading: Hedge Funds in the Crosshairs

In July 2013, the Department of Justice charged the multibillion dollar hedge fund SAC Capital Advisors with insider trading, and two SAC employees face trial in November. The SEC has brought an enforcement action against Steven Cohen, the fund's founder, which could end his career. These are not isolated events: Over the last three years, the SEC has filed more insider trading actions than in any three-year period in the agency's history. The Justice Department is also is aggressively pursuing insider trading actions. Galleon Group, Level Global, Sigma Capital Management, and Diamondback Capital Management have all found themselves in the crosshairs. These cases raise distinctive issues and present unique challenges for both defendants and prosecutors.

Panelists:
Jennifer Arlen '86, Norma Z. Paige Professor of Law and Director of the Program on Corporate Compliance and Enforcement, NYU School of Law
Bonnie Jonas, Deputy Chief of the Criminal Division and Assistant United States Attorney, U.S. Attorney's Office for the Southern District of New York
Peter Lattman, Dealbook Reporter, New York Times
John Nathanson, Partner, Shearman & Sterling

Moderator:
Kevin Davis, Vice Dean and Beller Family Professor of Business Law, NYU School of Law

Co-hosted by the NYU Law Program on Corporate Compliance and Enforcement.

This event took place on October 9, 2013.