United States v. Bassam Salman

How courts have described this case

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

• sustaining a conviction for insider trading where the tipper and tippee both benefitted from disclosure of insider information
• sustaining a conviction for insider trading where the tipper and tippee both benefitted from disclosure of insider information
• observing, in the context of a three-person tipping chain, that an ultimate tippee could “readily have inferred” an insider’s intent to benefit the initial tippee-turned-tipper based on his awareness of the insider and tipper’s close relationship
• observing, in the context of a three-person tipping chain, that an ultimate tippee could “readily have inferred” an insider’s intent to benefit the initial tippee-turned-tipper based on his awareness of the insider and tipper’s close relationship
• “Proof that the insider disclosed material nonpublic information with the intent to benefit a trading relative or friend is sufficient to establish the breach of fiduciary duty element of insider trading.”
• always requiring a material benefit would mean “a corporate insider ... would be free to disclose that information to her relatives [or friends], and they would be free to trade on it, provided only that she asked for no tangible compensation in return.”

Source: CourtListener parenthetical corpus (CC0).