United States Second Circuit

Affirmed the dismissal of a lawsuit alleging unlawful insider-trading in option contracts. This case involved a dispute over how Section 16(b) of the Securities Exchange Act of 1934 applies to trading in options. Agreeing with the defendants, the Second Circuit found no violation of the statute or related regulations. The panel affirmed dismissal of the plaintiffs' derivative action alleging that a financial firm engaged in improper options trading.

Appellate Information

• Published 2018/08/27

Judges

• Lynch

Court

• United States Second Circuit

Counsel