Securities and Exchange Commission v. David E. Lipson
Court of Appeals for the Seventh Circuit
1Opinion of the Court
POSNER, Circuit Judge.
David Lipson appeals from a judgment in favor of the plaintiff, the Securities and Exchange Commission, that followed a jury’s verdict that he had traded stock of a publicly traded corporation on the basis of inside information, in violation of the SEC’s Rule 10b-5, 17 C.F.R. § 240.10b-5. 129 F.Supp.2d 1148 (N.D.Ill.2001); see Securities Exchange Act of 1934, § 10(b), 15 U.S.C. § 78j(b). The appeal challenges the instructions that the judge gave the jury on liability and the relief that he ordered.
Early in 1995, Lipson, at the time the chief executive officer of…
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