Introduction to SEC v. Panuwat: Understanding “Shadow” Insider Trading
Harvard Corporate Governance
APRIL 29, 2024
In the groundbreaking case SEC v. Panuwat , the Securities and Exchange Commission (SEC) successfully pioneered a legal theory referred to as “shadow” insider trading. According to the SEC’s complaint, Panuwat, an employee of the pharmaceutical company Medivation, became aware that Medivation would soon be bought out.
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