United States Second Circuit

Judgment ordering defendant to disgorge all profits generated by insider trading, enjoining him from future violations of the securities laws, and ordering him to pay prejudgment interest on the disgorgement amount, is affirmed, where: 1) the district courts possess discretion to allocate disgorgement liability for insider trading to those responsible for the illegal acts, including to those with investment power over third‐party accounts used to make illegal investments as well as to tippers; and 2) there was no abuse of discretion in the district court's orders directing payment of prejudgment interest and issuing an injunction.

Appellate Information

• Decided 02/18/2014
• Published 02/18/2014

Judges

• LYNCH

Court

• United States Second Circuit

Counsel