Fed. Sec. L. Rep. P 98,646 Securities and Exchange Commission v. Michael A. Maio and Patricia C. Ladavac

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• upholding conviction and finding there was sufficient evidence that the tippee acted with scienter where he knew the insider’s position in the corporation and bought the stock in question shortly after speaking with the insider
• upholding conviction against downstream tippee and holding that her spending approximately $155,000 to buy stock when her income was only $11,000 and she had virtually no liquid assets further corroborated the inference that she knew the information was shared in breach of the duty
• friendships of 15 plus years and business mentoring relationships among defendants was evidence supporting reasonable inference inside information was disclosed
• information that meetings were occurring relative to merger found to be material
• exchange of favors within a friendship
• trading patterns were themselves evidence of materiality

Source: CourtListener parenthetical corpus (CC0).