Manatt Litigation Partner Interviewed on Insider Trading Evidence
"Bristol-Myers Exec Dug Own Grave with Cover-Up Efforts"
Law360
August 3, 2012—Law360 interviewed Manatt's Kenneth Julian, a partner in the firm's Litigation Division, on what new evidence can mean for the defendant in an insider trading case.
Law360 reports that Robert Ramnarine, an assistant treasurer for capital markets at pharmaceutical giant Bristol-Myers Squibb, allegedly bought stock options in three company acquisition targets based on private information he learned through his job. In addition to purportedly trading on inside information, Ramnarine allegedly used his office computer to search for articles on tracing insider trading before buying any stock options.
"The trading part of an insider trading case is readily established," said Julian, a former federal prosecutor. "The major issue is to prove intent. Evidence like this clearly shows advanced planning, and advanced planning goes a long way to proving intent."
"That's not good news for the defense," he added. "That's pretty devastating evidence."
Read the article here.