Developments highlighted in this issue include:

• The continuing fallout from the Newman decision, including proposed legislative responses to the decision.
• The SEC’s continued pursuit of insider trading cases as administrative proceedings rather than civil injunctive actions in federal courts.
• An analysis of the Supreme Court’s decision in Omnicare.
• Recent efforts by the SEC and plaintiffs to hold issuers to a higher standard for disclosure of MD&A trends and uncertainty.
• The potential convergence of insider trading and criminal cyber-theft.