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.
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 Newsletter
Dan Wenner wrote an article, "2nd Circ.'s Stunning Assault On The Fraud Guidelines," for Law360.
Day Pitney Newsletter
On January 30, Jed Davis will speak at The Knowledge Group Webcast, "Best Strategies in Protecting Your Firm Against Hackers: What Hackers Can and Cannot Do?"
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.
Stan Twardy was quoted in an article, “Conn.’s Top Fed Focused on Anti-Corruption, Police Partnerships,” which was published by the Connecticut Law Tribune.
Jed Davis was quoted in a breaking news article, "New York eases proposed cyber regulations after industry complaints," published by Reuters.