Martoma v. United States

Brief for the New York Council of Defense Lawyers and the National Association of Criminal Defense Lawyers as Amici Curiae in Support of Defendant-Appellant's Petition for Rehearing En Banc.

Brief filed: 08/15/2018


Martoma v. United States

2nd Circuit Court of Appeals; Case No. 14-3599

Prior Decision

Panel decision 894 F.3d 64 (2nd. Cir. Aug. 23, 2017 (decided) and June 25, 2018 (amended)


The panel’s ruling is inconsistent with Newman, Dirks and Salman, and undermines the vitality of the "personal benefit" requirement. Constitutional principles counsel against the panel's expansive extension of insider trading law.


Ira M. Feinberg, Hogan Lovells US LLP, New York, NY; Richard D. Willstatter, Green & Willstatter, White Plains, NY.

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