Publications Memos Go Back SEC Rule 10b5-1 and Insider Trading Liability 10.17.00 This memorandum summarizes the SEC's recently enacted Rule 10b-5 and sets forth the criteria that must be followed to establish the new affirmative defenses under the rule. Related Insights 09.08.25 | Publications Ninth Circuit: “Snappy” Opioid Slogan Not Deceptive Where Additional Disclosures Clarified Its Context 09.04.25 | Publications SEC Watch: Monthly Takeaways for Asset Managers - September 2025 08.08.25 | Publications Ninth Circuit: Disclaiming Fraud Does Not Waive a Section 12(a)(2) Misstatement Claim Related Services Related Practice Areas Banking and Credit Corporate Litigation Capital Markets Asset Management M&A Securities Litigation Debt Acquisition Finance Complex Commercial Litigation