Legal Opinion
Securities & Exchange Commission v. One or More Unknown Traders in Securities of Onyx Pharmaceuticals, Inc.
District Court, S.D. New York
Decided November 21, 2013No. 13 Civ. 4645 (JPO)PublishedCited by 9 opinions
1Opinion of the Court
OPINION AND ORDER
J. PAUL OETKEN, District Judge:
The Securities and Exchange Commission brought this action against unknown traders who purchased call options for shares of Onyx Pharmaceuticals, Inc. shortly before Onyx made a public announcement causing its shares to jump 51% in value. The SEC alleges that these purchases were insider trades in violation of section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), and Rule 10b-5, 17 C.F.R. § 240.10b-5. The Court has frozen all assets related to the trades in question until the final disposition of this ease. Dhia Jafar and…
2Cases cited36 opinions
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- Conley v. GibsonSupreme Court of the United States · 1957
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- Tellabs, Inc. v. Makor Issues & Rights, Ltd.Supreme Court of the United States · 2007
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3Cited by9 opinions
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