Tuesday, 21 June 2011

Australia: insider trading and the meaning of 'information'

The Supreme Court of Western Australia (Court of Appeal) gave judgment last week in R v Mansfield [2011] WASCA 132. This is an interesting and important decision, citing authorities from the UK and USA, concerning the meaning of 'information' in the context of the insider trading offence under Section 1043A of the Corporations Act 1991. The court held, by majority, that the fact that information was untrue did not result in it ceasing to be information for the purposes of Section 1043A.

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