Chiarella v. U.S., No. 78-1202 (U.S. Supreme Court) (445 U.S. 222; 100 S.Ct. 1108) (March 18, 1980) (Justice Powell)
In this case the petitioner was an employee of a financial printer which produced announcements for corporate takeover bids. As a result of his position, he became aware of tender offer information before it became public. He bought stock in the target companies based on that advance information and sold …
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