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    12.02.10 Professor Roberta Karmel Cited by U.S. District Court for the Southern District
    Roberta Karmel

    Judge Daniels of the United States District Court for the Southern District cited Professor Roberta Karmel in the Court’s Memorandum Decision and Order in the case, SEC v. Obus on September 20, 2010. The Court cites an article Professor Karmel wrote entitled, “Outsider Trading on Confidential Information- A Breach in Search of a Duty,” 20 Cardozo L. Rev. 83, 108, and explains that in her article she “discusses the problems associated with the fiduciary duty element as applied in insider trading cases, specifically that the SEC is guided by the oft-cited O’Hagan decision, which was itself born out of Chief Justice Berger’s dissent in United States v. Chiarella, 445 U.S. 222, 240, 100 S.Ct. 1108, 63 L.Ed.2d 348 (1980), rather than a Congressional directive.”

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