Judge richard sullivan biography of martin
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Securities Litigation, Investigations and Enforcement
On December 10, , the Second Circuit issued an important decision (U.S. v. Newman, No. , WL (2d Cir. Dec. 10, )) that will make it more difficult in that Circuit for prosecutors, and most likely the SEC, to prevail on a “tippee” theory of insider trading liability. Characterizing the government’s recent tippee insider trading prosecutions as “novel” in targeting “remote tippees many levels removed from corporate insiders,” the court reversed the convictions of two investment fund managers upon concluding that the lower court gave erroneous jury instructions and finding insufficient evidence to sustain the convictions. The court held, contrary to the government’s position, that tippee liability requires that the tippee trade on information he or she knows to have been disclosed by the tipper: (i) in violation of a fiduciary duty, and (ii) in exchange for a meaningful personal benefit. Absent such knowledge, the tippee is
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United States Court of Appeals for the Second Circuit
Current United States federal appellate court
The United States Court of Appeals for the Second Circuit (in case citations, 2d Cir.) is one of the thirteen United States Courts of Appeals. Its territory covers the states of Connecticut, New York, and Vermont, and it has appellate jurisdiction over the U.S. district courts in the following federal judicial districts:
The Second Circuit has its clerk's office and courtrooms at the Thurgood Marshall United States Courthouse at 40 Foley Square in Lower Manhattan.
Because the Second Circuit includes New York City, it has long been one of the largest and most influential American federal appellate courts, especially in matters of contract law, securities law, and antitrust law. In the 20th century, it came to be considered one of the two most prestigious federal appellate courts, along with the U.S. Court of Appeals for the District of Columbia Circuit.[1] Several
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Chambers Telephone Number: ()
Biography:
Senior Judge. Born in Maryland. Education: B.A., magna cum laude, , College of Notre Dame, Baltimore, MD; J.D. with honors, University of Maryland School of Law, Baltimore, MD, (awarded Order of the Coif). Garbis & Schwait, P.A., associate , and shareholder ; Garbis, Marvel & Junghans, P.A., shareholder ; Melnicove, Kaufman, Weiner, Smouse & Garbis, P.A., shareholder ; Venable, Baetjer & Howard L.L.P., partner, Member, American dryckesställe Association, Section of Taxation, Vice-Chair, Committee Operations, ; Council Director, ; Chair, Court Procedure Committee, ; Maryland State Bar Association, Board of Governors, , and ; Chair, Taxation Section, Fellow, American dryckesställe Foundation; Fellow, Maryland dryckesställe Foundation; Fellow and former Regent, , American College of Tax Counsel; Member, American lag Institute; Advisor, ALI Restatement of lag Third-The lag Governing Lawyers ; University of Maryland Law School Board of Visitors, ; Loyola/Notre Dame Libr