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Insider Trading

Anyone with a brokerage account could make money in the financial markets if they knew what was going to happen tomorrow. Corporate insiders have exactly that advantage at times since they have access to non-public (“inside”) information. Consequently, securities laws prohibit insiders from trading on such information in order to maintain a level playing field. Corporate insiders who do engage in trading on non-public information are guilty of illegal insider trading. Officers, directors, and employees of public corporations who buy and sell stock they own in their companies are required to report those transactions to the SEC.

Illegal insider trading is not limited to corporate insiders. If friends, family, and business associates of corporate insiders are “tipped” and trade on non-public information, then they are guilty of illegal insider trading. Similarly, employees of accounting, law, banking, brokerage, and printing firms who have access to non-public information of a publicly traded company for which they provide services are prohibited from trading on such inside information.

Prominent illegal insider trading cases include Martha Stewart for selling ImClone Systems stock, Jeff Skilling for illegally trading Enron securities, IBM executive Robert Moffat for sharing insider information with New Castle Funds consultant Danielle Chiesi, and, more recently, Galleon hedge fund billionaire Raj Rajaratnam for making more than $50 million in illicit profits by trading on inside information given to him by associates at some of America’s corporate standard bearers, including Google, Hilton, and Goldman Sachs. 


If you are a corporate insider, an analyst, accountant; or if you are a former employee or a third party with specific information related to the above-mentioned wrongdoings or similar fraud, please contact us and we will analyze your case and provide step-by-step assistance with filing a whistleblower claim to stop the fraud.

Learn more about how to be an SEC whistleblower.

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