Wednesday, July 11, 2012

Insider Trading and the Supreme Court

Gerard N. Magliocca

An uncomfortable question that arises in the aftermath of the Supreme Court leaks about the health care ruling is the possibility that inside information was used for financial gain. I wonder if the SEC should examine if any of the potential leakers or any alleged recipients of those tips prior to the issuance of the decision took any large positions in health care stocks. It seems clear that the Court's deliberations were known by some people who should not have known prior to the ruling, and that kind of disclosure is a serious matter that goes beyond academic hand-wringing.

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