Word: lawyers
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...contract of confidentiality suffices for illegal insider trading "is not as clear as one would like." Some court findings, he says, suggest that it's not enough for two parties to merely agree to keep information confidential - they must also have a higher-level relationship, like that of a lawyer and client or a company and employee...
...been operating under this "misappropriation theory" ever since. A key 1997 Supreme Court decision upheld the conviction of a lawyer who bought securities tied to Pillsbury while his law firm was representing a company trying to take over the baking-products outfit. The court found that using such confidential information "constitutes fraud akin to embezzlement - the fraudulent appropriation to one's own use of the money or goods entrusted to one's care by another." (Read TIME's 10 Questions with Mark Cuban...
...agreed to hear it. But the day after charges were filed, Cuban's attorney posted an entry on Cuban's blog bluntly saying, "There was no agreement to keep information confidential." The post also included a partial transcript of an exchange between Mamma.com's former CEO and Cuban's lawyer in which the ex-CEO said he didn't remember Cuban agreeing to confidentiality. That account is completely at odds with the conversations and e-mails presented in the SEC complaint, including a version of the phone call that ended with Cuban saying, "Well, now I'm screwed...
...documents furnished by DOJ staffer Tamarah T. Grimes tell a different story. A legal aide who worked in the Montgomery office that prosecuted Siegelman, Grimes first submitted her documents to DOJ watchdogs in 2007, and now finds herself in an employment dispute that could result in her dismissal. Grimes' lawyer had no comment...
...Niyongabo, the Burundian ambassador to the United States, told TIME. "Burundi is a country emerging from conflict," and given potential security threats, "the police had the right to go and look at what is happening in the house of any citizen." He emphasized that Sinduhije has access to a lawyer. He could not say when the trial would be, but said he hopes "as soon as possible." He noted that Sinduhije has not been physically harmed - an assertion that Sinduhije's supporters have backed up. Burundi, the ambassador declares, remains "committed to human rights...