United States v. O’Hagan
Citation
521 U.S. 642 (1997)
Facts
Stub — to be completed.
Issue
Stub — to be completed.
Holding
Stub — to be completed.
Rule
The misappropriation theory of insider trading: a person who misappropriates confidential information for securities trading, in breach of a duty owed to the source, violates § 10(b) and Rule 10b-5.
Significance
Upheld the misappropriation theory, extending insider trading liability beyond corporate insiders to outsiders who breach duties to their own principals.