Salman v. United States

Summarized by:

  • Court: U.S. Supreme Court Certiorari Granted
  • Area(s) of Law: Criminal Law
  • Date Filed: January 19, 2016
  • Case #: 15-628
  • Judge(s)/Court Below: 792 F.3d 1087 (9th Cir)
  • Full Text Opinion

Whether familial relations is sufficient for a conviction of securities fraud or if personal benefit from the actual information is required.

Petitioner was indicted and ultimately found guilty for an insider trading scheme where Petitioner’s brother in-laws had insider information that they passed on to the Petitioner. The Ninth Circuit Court of Appeals affirmed the guilty verdict. Petitioner appeals to determine whether a close familial relation was sufficient, without more objective evidence, to find him guilty. Petitioner argues the Supreme Court has a duty address the conflict between previous decisions in Newman and Dirks because the Newman court misread Dirks and the personal benefit standard articulated in Dirks still needs to be examined by the Supreme Court. Petitioner also argues that his situation is different from Newman because the outcome depends upon actually exchanging information or if having a familial relationship is sufficient.

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