Hunton & Williams Files Supreme Court Amicus Brief Urging Certiorari Grant in Insider Trading Case

Hunton & Williams today filed an amicus brief urging the US Supreme Court to grant certiorari in a case involving intersecting issues of federalism and insider trading law. The brief urges the Supreme Court to resolve a circuit split as to definition of the "fiduciary duty" element in a criminal prosecution for insider trading under §10(b) of the Securities Exchange Act. Shawn Patrick Regan is counsel of record, joined on the brief by Patrick Robson, Joseph Saltarelli, Michael Kruse and Joshua Paster. The brief was filed on behalf of Professor Stephen Bainbridge, the William D. Warren Distinguished Professor of Law at UCLA.

“We are pleased to have been called upon to prepare and submit this amicus brief on behalf of Professor Bainbridge, a preeminent scholar of corporate law and governance,” Regan said. “Where, as here, there is a split among the circuit courts implicating core Constitutional principles and making it difficult for analysts to determine in advance the line between lawful competitive research to advise investors and potential criminal charges, the conflict should be resolved.”

The brief is available here.