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ARTICLE · 07 DECEMBER 2016

Supreme Court Decision Alert - December 6, 2016

Mayer Brown
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Today, the Supreme Court issued three decisions, described below, of interest to the business community.

United StatesLitigation, Mediation & Arbitration
Brian Netter
Brian Netter
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Today, the Supreme Court issued three decisions, described below, of interest to the business community.

  • Securities Law—Insider Trading
  • False Claims Act—Seal Requirement
  • Patent Act—Design Patent Damages

Securities Law—Insider Trading

Salman v. United States, No. 15-628

The Court clarified an important issue of securities law, concluding unanimously today in an opinion by Justice Alito that a tippee who trades on inside information provided by another person cannot escape liability merely because the tipper expected and received nothing of tangible value in exchange for the information. In this case, the defendant's brother-in-law, an employee of an investment bank, provided a tip to a member of the extended family, who then shared the information with the defendant.

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