Are you facing accusations of insider trading? Our insider trading defense lawyers can help. The Spodek Law Group has over 40 years of experience handling legal issues. If you’re under SEC investigation for insider trading, then our defense lawyers can help.
Here’s what you need to know: the SEC takes insider trading seriously, and takes enforcement seriously. They have a zero tolerance approach to insider trading. The SEC has demonstrated immense willingness to pursue insider trading cases involving even small dollar amounts. Regardless of whether you’re a Wall Street Titan, or a small time executive – the SEC WILL COME AFTER YOU for insider trading. When that happens, you’ll need an insider trading defense lawyer to protect you.
What happens first
If you’re under investigation for insider trading, you’ll eventually be contacted by the SEC. At first, by a telephone call out of the blue (known as an ambush call), and thereafter by SEC subpoena. It’s critical you understand the law on insider trading, and how the SEC handles, prosecutes, and settles, these types of cases. In addition, if you have legal exposure as a result of what you did – you need to understand your options, including what happens if you cooperate with the SEC eventually.
It’s extremely important you engage with an SEC insider trading lawyer who can counsel you and inform you of your rights and your options. It’s critical you devise a strategy in order to defeat the insider trading investigation you face.
What the SEC cares about
SEC insider trading investigations are discovery missions by the SEC to understand what you knew, when you knew it, and how you knew it – before purchased and sold a security. The SEC wants to know if you traded on non-public material. For example, if you knew of the company’s plan to merge before it was publicly announced – or if you traded based on tips others gave you. The SEC will issue a subpoena seeking information like: your brokerage account statement, bank records, telephone records, cell phone records, social media communications, text messages, and any other document that is involved in the basis of your decision to eventually buy and sell. The SEC will get documents and testimony from anyone on the “inside,” who possessed information that they may have shared with you.
After documents are produced to the SEC and then reviewed by the SEC – you will be asked to give testimony. The testimony will be processed by the SEC counsel. The counsel will ask you questions under oath, like why you did the trade, your relationship with those in the company who possessed the information, and your communications with those who traded. At this stage of the insider trading investigation, regardless of whether you take the Fifth, or seek to cooperate, it’s critical you have a SEC insider trading lawyer on your side.
SEC Insider Trading Lawyer – Todd Spodek
SEC insider trading investigations are high risk, and high stake cases. You could be at risk and have to pay monetary penalties, injunctions, loss of licenses, and damage to your reputation. The SEC on numerous occasions refers insider trading cases to criminal authorities.
SEC Investigations and Subpoenas
The Spodek Law group has experience handling securities and investment cases. We have experience handling some of the toughest cases conducted by the SEC. The SEC will target private individuals and companies alike – who have violated the federal securities laws. After an informal inquiry, the case becomes an official investigation. During this investigation, the SEC staff will gather as much information as possible about an individual, or a company, from a variety of sources. At this point, the investigation could start falling apart – resulting in the SEC issuing subpoenas and compelling witness testimony.
In order to prevent the case from being sent to the court system, you should consider the following
-Start cooperating with the SEC in the presence of an SEC insider trading lawyer as soon as possible. It may help end the inquiry before it turns into a formal investigation
-Avoid disclosing financial and accounting information to the public. Investigators look at updates in the media, including your personal social media accounts.
-Get expert legal counsel from Todd Spodek and his team of SEC defense lawyers. We will consult with you, and represent you.
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