With the much-anticipated decision in Salman v. United States, we will review the Supreme Court’s ruling about “personal benefit” and a corporate insider’s breach of fiduciary duty and discuss the current state of insider trading law.

Please join Foley attorneys Jonathan Halpern and Beth Boland for a webinar that takes a closer look at these issues and covers such topics as:

• An overview of the law on insider trading pre-Salman, including cases since Newman

• A discussion of the background, facts, and holding in Salman

• The implications for future civil and criminal insider trading cases following Salman (and Dirks)

  • What constitutes a “friend” in assessing whether the gifting insider received a personal benefit?

  • How do you know if tipped MNPI will be considered a personal benefit to the insider and a breach of his/her fiduciary duty where the tippee is neither friend nor relative?

• The takeaways: What does Salman teach about foreseeing insider trading liability