Introduction: The common law system is used in the United States. The roots of common law system originate from the principles of old English law and were incorporated by the Constitution which share its legal norms with other Commonwealth law systems as well. Few among them are bills of attainder and general search warrants. Adopting the principle of stare decisis, the American judges can apply and make laws that can be used to take decisions for reference in future cases. Maher Kara is an investment banker working in Citigroup’s healthcare investment banking group. He holds a key position and is well informed about the highly confidential information about mergers and acquisitions involving Citigroup’s clients.
1. Court’s decision in the Salman v. United States
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Insider: An insider an employee of an organization who holds a designated post in the organization and possess critical information about the organization that if publically traded can change its market value. In U.S anyone who attains ten percent or more voting shares of the organization is naturally considered to be an insider. Taking advantage of non public information for personal gain is strictly prohibited. Maher Kara is yet another example of an insider. He is a trusted employee of Citigroup’s healthcare investment banking group and is well aware of highly confidential information about mergers and acquisitions involving Citigroup’s clients. The information that Maher shared with his brother Michael is inside information as by using this non public information Michael was gaining personal …show more content…
Definition of a “tipper” and “tippee”: The tipper is a person or an employee of an organization who acts a giver of information and misuses his powers breaking trustworthy commitment on deliberately revealing the non public information to others for increasing individual gain. Tippee on the other hand is the person with whom the non public information is shared or the receiver of the