Gibson Dunn Trial Attorneys Discuss the Trial Victory of Hedge Fund Manager Nelson Obus, the “Lamest Insider Trader in History”

On May 30, 2014, after an investigation and litigation that spanned 13 years, a jury found Nelson J. Obus, Peter F. Black and Thomas Bradley Strickland not liable for insider trading in the shares of SunSource, Inc. at the time of its acquisition by Allied Capital Corporation in 2001.  Two of Obus’ defense attorneys recently shared the lessons they learned from contending with the SEC investigation, the insider trading litigation and the trial of the case.  The program featured Gibson, Dunn & Crutcher LLP partner Joel M. Cohen and associate Mary Kay Dunning.  See “When Does Talking to Corporate Insiders or Advisors Cross the Line into Tipper or Tippee Liability under the Misappropriation Theory of Insider Trading?,” Hedge Fund Law Report, Vol. 6, No. 2 (Jan. 10, 2013).

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