United States Third Circuit

Conviction of defendant for conspiracy, securities fraud, and wire fraud for his participation in planned manipulation of the markets of four publicly traded stocks is affirmed, where the purchases and sales of securities issued by U.S. companies through U.S. market makers acting as foreign entities constitute "domestic transactions" under Morrison v. National Australia Bank Ltd., and as such, defendant's conviction was not based upon the improper extraterritorial application of United States law.

Appellate Information

• Decided 01/20/2015
• Published 01/20/2015

Judges

• Greenaway

Court

• United States Third Circuit

Counsel