Silicon Valley Bank’s former president and CEO Gregory Becker won’t have to face insider trading allegations from a shareholder, after a judge granted a motion to dismiss the individual investor’s lawsuit.
The lawsuit focuses on two sets of trades, made by plaintiff John Pauly in 2021 and by Becker in 2023, that aren’t adequately contemporaneous to meet the standard for such a claim, Judge James Donato ruled Wednesday in US District Court for the Northern District of California.
Pauly lacks standing to bring his individual claim against Becker over the alleged insider trading, because the Securities Exchange Act would ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.