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...case law maintains that two main things must be established for an act to be illegal insider trading. First, the information in question must be material and non-public. Second, revealing or trading on the information must entail knowingly breaching a duty of "trust or confidence." This can be a fiduciary duty, which an officer of a company would have to a firm's shareholders (perhaps an Intel managing director), or - as the Supreme Court has more recently found - a lower-level employee who has a broader duty to not share, or personally benefit from, his firm's proprietary information...

Author: /time Magazine | Title: Arrests Open a Window on Hedge-Fund Culture | 10/21/2009 | See Source »

...successfully prosecute a person who receives insider information and then trades on it (such as a hedge-fund manager), the government must show that the person knew the information came from a breach of duty. In the case of Rajaratnam's alleged Google stock tip, he didn't talk to the source of the information directly but rather to a middleman informant. That middleman purportedly told Rajaratnam who the tipster was - thus revealing the breach of duty. For that particular charge, that communication is key. (See pictures of crime in Middle America...

Author: /time Magazine | Title: Arrests Open a Window on Hedge-Fund Culture | 10/21/2009 | See Source »

...battle against HIV. "Let's not get hung up on tangential concerns, and stay focused on everyone's main priority: working our way toward getting a vaccine," Bernstein says. "This trial isn't the big bang. It isn't perfect, and [it] has only provided points of information that must be examined, pursued and - yes - hotly debated. But that's what science is about, and we've got more now to go on than we did before...

Author: /time Magazine | Title: The AIDS Vaccine: Modest Results, but a Sign of Hope | 10/21/2009 | See Source »

...help from advisers because “you know they must be good at it because they have...

Author: By Noah S. Rayman | Title: For Aspiring Faculty, A Depressing View | 10/21/2009 | See Source »

...course, if we truly desire a college admissions process that does not fall victim to the inequalities of society, then we must make a concerted effort to mitigate this societal inequality. In achieving a society that is more egalitarian, we diminish or even eliminate the need for the current unsavory but necessary practices of discrimination in college admissions...

Author: By Derrick Asiedu, CRIMSON STAFF WRITER | Title: DISSENT: Affirmative Action | 10/20/2009 | See Source »

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