Intent-Based Theory Of Liability In Hwang Creates Ambiguity

Edward Imperatore wrote an article for Law360 that explored the indictment of Bill Hwang, founder of Archegos Capital Management, who will be tried on charges of racketeering conspiracy, securities fraud, market manipulation and wire fraud.

He wrote, “A closer inspection of the indictment reveals that Archegos' allegedly unlawful securities trading, which involved executing trades in the open market, lacks traditional indicia of illegality. The allegations and surrounding legal framework are far from clear-cut and highlight the need for courts to clarify the legal standard defining "market manipulation.”

Read the full article.