United States V. O’hagan Case Brief

CASE BRIEF-Week 8 Style of Case and Citation: get together States v. OHagan, 521 U.S. 642, 117 S. Ct. 2199, 138 L. Ed. 2d 724, 1997 U.S. Court Rendering Final purpose: US Supreme Court Identification of Parties and Procedural elaborate: Respondent, James OHagan, was an come out of the closetsider who had access to confidential information, and he profited from the information at the expense of the follow and other shareholders. The Securities and put back Commission (SEC) incriminate Respondent of atom:10(b) and member:14(e) violations. intervention of the Facts: Respondent was a partner in a police force firm, Dorsey & Whitney, which was representing a company that was potentially tendering an offer for common stocktaking of the Pillsbury Company. Respondent was not personally involved in the representation, only he was conscious of the transaction enough to know that if he purchased Pillsbury securities now that they would cast up in value erstwhile the offer went by means of. Respondent was breathing out to wasting disease the profits from this transaction to replace money that he embezzled from the firm and its clients. After the offer went done, he do a $4.3 million profit. The SEC investigated Respondents minutes and claimed he violated Section:10(b) and Section:14(e) for misappropriating confidential information. A jury convicted Respondent.

Statement and Discussion of the Legal Issues in variance: There are two issues regarding Section:10(b) and Section:14(e). The prototypal issue is whether Respondent violated Section:10(b) and Rule 10b-5 when he misappropriated nonpublic information to personally benefit through th e trading of securities. The second issue i! s whether Rule 14e-3(a) exceeds the SECs rule-making authority as granted by the Securities and Exchange Act. hit Court Final Decision: Respondent did violate Section:10(b) and Rule 10b-5 because all of the element of the rule were met. Respondent did use deceit in connection with the purchase of securities. He did not disclose to the firm...If you want to get a full essay, Indian lodge it on our website: OrderEssay.net

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