Insider trading is difficult to stop. Here's why investigations can get more complicated when activist investors are brought into the mix.
The burden of proof for a criminal case requires proving intent.
Paperny pleaded guilty to one count of conspiracy to commit securities fraud in 2007. After serving time in federal prison, he now guides"The biggest thing that our team hears every single day: 'I've been indicted for a white-collar crime. Why? I did not have bad intentions.' The government cares about the result. What did your action lead to? Victims' losses and pain. Too many defendants are unable to reconcile and understand that.
"In my experience, it has not been hard for the Department of Justice to prove cases," Paperny added. "I would argue the DOJ is not going to bring a case unless they know they can win. ... Even when it's dubious or they're unsure and they bring a case, as we know, the lion's share of defendants plead guilty."Investigations can get more complicated when activist investors are brought into the mix.
"Any time you do anything, if you're a public figure and you're an activist investor, you're going to be scrutinized, you're going to be reported to authorities, you're going to be subjected to all sorts of conspiracy theories," Stark said.
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