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"“Dorozhko’s alleged ‘stealing and trading’ or ‘hacking and trading’ does not amount to a violation” of securities laws, Judge Naomi Reice Buchwald of United St
by berberous 11y ago
"“Dorozhko’s alleged ‘stealing and trading’ or ‘hacking and trading’ does not amount to a violation” of securities laws, Judge Naomi Reice Buchwald of United States District Court ruled last month. Although he may have broken laws by stealing the information, the judge concluded, “Dorozhko did not breach any fiduciary or similar duty ‘in connection with’ the purchase or sale of a security.” She ordered the S.E.C. to let him have his profits."
http://www.nytimes.com/2008/02/15/business/15norris.html http://www.nytimes.com/2008/02/15/business/15norris.html
- jdshutt 11y agoThe Second Circuit reversed that ruling. http://economix.blogs.nytimes.com/2010/03/29/common-sense-and-insider-trading/ http://economix.blogs.nytimes.com/2010/03/29/common-sense-an...