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Securities and Exchange Commission v. Panuwat

  1. March 22, 2024

    Expert's Sanctions Off Limits In SEC's 'Shadow Trading' Trial

    A California federal judge overseeing a "shadow trading" trial starting Monday against a pharmaceutical executive ruled that the U.S. Securities and Exchange Commission can't introduce banking sanctions evidence against the defendant's mergers and acquisitions expert as long as he doesn't give opinions on securities law.

  2. March 21, 2024

    SEC's 'Shadow Trading' Trial To Test Insider Info Boundaries

    If the U.S. Securities and Exchange Commission can convince jurors hearing its first-ever "shadow trading" case next week to find a former executive in the wrong for buying up a competitor's securities while having insider information about his own company, the floodgates could open to civil and criminal prosecution of other corporate insiders under the novel legal theory, attorneys told Law360.

  3. January 01, 2024

    SEC Enforcement Cases To Watch In 2024

    The U.S. Securities and Exchange Commission's enforcement division is facing a number of decisive court battles this year, from an anticipated U.S. Supreme Court ruling that could severely limit its use of its in-house court system, to possible decisions in headline-grabbing litigation over cybersecurity breaches, cryptocurrency sales and insider trading. Here, Law360 breaks down the enforcement cases and controversies to watch in 2024. 

  4. November 20, 2023

    SEC 'Shadow Trading' Case Survives Exec's Early Win Bid

    A former pharmaceutical executive could not secure summary judgment in a novel U.S. Securities and Exchange Commission "shadow trading" case, with a California federal judge ruling Monday that the SEC has shown there are genuine disputes about whether the executive received and traded on material, nonpublic information.

  5. October 19, 2023

    SEC Says Jury Should Hear First 'Shadow Trading' Case

    The U.S. Securities and Exchange Commission has objected to a former pharmaceutical executive's attempt to shake off the agency's first "shadow trading" lawsuit before the case makes it to a jury, arguing proof exists the defendant knew he was committing insider trading when he purchased a competitor's stock.

  6. January 18, 2022

    SEC's 'Shadow Trading' Theory Passes Muster With Judge

    A California federal judge has denied a motion to dismiss the U.S. Securities and Exchange Commission's first major enforcement action premised on the practice of "shadow trading," saying the agency's unique theory of liability fits within the contours of insider trading law.

  7. January 12, 2022

    Alleged Shadow Trader Asks Judge To Halt SEC 'Overreach'

    An ex-Medivation executive urged a California federal judge at a hearing Wednesday to toss the U.S. Securities and Exchange Commission's "overreaching" claim he engaged in insider trading by buying stock options in a rival biopharmaceutical company after learning Pfizer was purchasing Medivation, saying the insider trading law "just doesn't apply here."

  8. August 18, 2021

    SEC's 'Shadow Trading' Suit Dives Into Murky Area Of Law

    The U.S. Securities and Exchange Commission is entering uncharted legal waters with an insider trading suit against a biopharmaceutical executive for allegedly engaging in a practice that's become known as "shadow trading," experts told Law360.

  9. August 17, 2021

    SEC Sues Exec For Trading On 2016 Pfizer Merger News

    The U.S. Securities and Exchange Commission filed an insider trading case Tuesday that claims a former Medivation Inc. executive bought stock options in a rival biopharmaceutical company "within minutes" of learning his own company was being acquired by Pfizer Inc.

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