Fidelity Director May Be Liable For Insider Trading
National News
The 9th Circuit reversed and remanded a ruling for attorney J. Thomas Talbot, a member of the board of directors of Fidelity National Financial, who was accused of insider trading by the Securities and Exchange Commission.
Judge Wardlaw found that Talbot may be held liable for misappropriating confidential information that a third party was looking to buy LendingTree - a deal which would allegedly net Fidelity $50 million as a shareholder. Talbot bought 10,000 shares of LendingTree after finding out about the impending acquisition.
The court considered Talbot's actions insider trading, even though Fidelity's CEO never told the board of directors that the information was confidential.
Talbot can be held liable for misappropriating the information from Fidelity, the court ruled, but the case heads back to the district court to settle whether that information was "material" under the law.
Related listings
-
NY Sets Bar High for Adult Victims of Predatory Clergy
National News 06/30/2008New York’s highest court has set the bar prohibitively high for proving certain civil cases against predatory clergy by ruling that a woman cannot sue a rabbi who had an affair with her because she was not “uniquely vulnerable and incapable of self-p...
-
"Parrot Fever" Suit May Not Fly
National News 06/27/2008The family of a Texas man who allegedly died of a disease contracted from a sick cockatiel has sued PetSmart for wrongful death, but the fate of similar cases around the country suggests their products liability theory will not fly.The cockatiel that...
-
Naked Cowboy Sues M&M's
National News 06/24/2008"This is the case of The Naked Cowboy versus The Blue M&M," afederal judge wrote in allowing The Naked Cowboy's lawsuit against Marscandy and Chute Gerdeman ad agency to proceed. "Plaintiff Robert Burckis a 'street entertainer' who performs in Ne...
New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.