Shadow

Former Biopharmaceutical Executive Found Liable for ‘Shadow Trading’ in Landmark Insider Trading Case

by

SAN FRANCISCO (AP) — A former biopharmaceutical executive was found liable for “shadow trading,” an insider trading theory, by a federal jury in San Francisco on Friday. The jury’s decision rejected the defense’s claim that the case was constructed by the U.S. Securities and Exchange Commission (SEC) without evidence of the motives behind the trades. This verdict could have significant implications for insider trading regulations. Matthew Panuwat, the defendant, was accused by the SEC of having confidential information about his employer, Medivation Inc., and trading in the securities of Incyte Corp., a closely related company. … Read more

The Lingering Shadow of the Comstock Act: A Relic of Free Speech Suppression

by

WASHINGTON (AP) — In the ongoing debate over expanded access to the abortion pill, mifepristone, the applicability of the Comstock Act has emerged as a chilling concern for advocates of free speech. This 151-year-old law was originally intended to ban the mailing of materials deemed “obscene, lewd, [or] lascivious,” including contraception and pornography. However, the Act’s connection to the availability of mifepristone is hotly contested and unlikely to gain traction in the Supreme Court. Justices Clarence Thomas and Samuel Alito, while outliers on this issue, have raised the Act’s relevance in the recent oral arguments. … Read more