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10b5-1 Plan Abuse: Practical Steps to Detect and Prevent
by J. David Washburn
Spencer C. Barasch
Christopher McRorie
Andrews Kurth LLP
Dallas Office
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August 5, 2008
Previously published by LJN - The Corporate Counselor on September 1, 2007
Reminiscent of the 1980s, the heydey of Wall Street protagonist Gordon Gekko, along with real-life Wall Street insiders (and eventual felons) Ivan Boesky and Michael Milkin, who mesmerized the securities industry, today's equity markets are soaring and public companies are reaping extraordinary benefits. Consistent with its response to the 1980s merger and acquisition frenzy made infamous by Gekko's credo that "greed is good," the SEC again has made insider trading its top priority, partly in response to recent skepticism in Congress about the agency's effectiveness in policing the markets for insider trading.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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