In the January issue of LJN's Business Crimes Bulletin, White Collar partner Stanley Twardy Jr. and counsel Doreen Klein look at how the Department of Justice used wiretaps to uncover alleged insider trading at hedge fund Galleon Group, marking "the first time the court-authorized wiretaps have been used to target significant insider trading on Wall Street," according to Preet Bharara, the U.S. Attorney for the Southern District of New York. Twenty defendants have been arrested so far, including Galleon's founder Raj Rajaratnam. Others include lawyers, stock brokers and executives inside the issuers themselves.
Twardy and Klein conclude that the case is likely to portend the increased use of wiretaps in white collar cases despite raising practical issues that could benefit the defense. For one, telephone talk by traders is open to misinterpretation and likely to be contested before the fact finder. Also, the transcripts are discoverable in the parallel civil proceedings, allowing defendants to learn details of the government's case. What is certain is that prosecutors and white collar defense lawyers will be watching the case closely.
Jed Davis will be a featured panelist in a CLE program titled, "Implementing the New DFS Cybersecurity Regulation," (click on title to register), sponsored by the Data Law Initiative at Cardozo Law School.
Dan Wenner authored an article, "FBI Leaks and the Sanctity of Grand Jury Secrecy," published in Law360.
Day Pitney Newsletter
Steven Cash co-authored an article, "Evolution of a Valuable Tool for Attorneys: Business Intelligence Practitioners," for the New York Law Journal.
Elizabeth Latif will be a featured speaker at the National Contract Management Association (NCMA) Boston Chapter's 56th Annual March Workshop on March 8, 2017.
Day Pitney Press Release
Danielle M. Corcione was quoted in an article, "Former Asst. US Attorney Joins Day Pitney's NJ Office," published in Law360.
Dennis Kearney was quoted in an article, "Trump's US Atty Pick For NJ Will Have Christie's Imprint," published in Law360.
Dennis Kearney was quoted in an article, "Ex-NJ AG Spared Prison Based on Reputation, Attys Say," published in Law360.
On January 5, Day Pitney hosted a speech by Robert L. Capers, the U.S. Attorney for the Eastern District of New York, to the White Collar Crime Committee of the American Bar Association's Business Law Section (WCCC) at the firm's New York City office.