The Genius of the Personal Benefit Test
Jonathan R. Macey, Stanford Law Review & The Stanford Law Review
Abstract
Introduction On October 5, when the U.S. Supreme Court hears Salman v. United States, it will focus on the role of the “personal benefit” test in insider trading law for the first time since the test was established in the now iconic 1983 case Dirks v. SEC. Dirks reaffirmed the principle that trading on the […]