Silence — not blogging — is the best defense against insider trading allegations, White-Collar Crime Attorney Stuart Slotnick told the Wall Street Journal Law Blog in a post published August 22, 2011. The article was also picked up by Fox Business and NASDAQ.com.
"The advice should be 'don't talk'," Slotnick said.
Last week, the Securities and Exchange Commission charged Toby Scammell with insider trading, prompting Scammell to start a blog. As the article reported, Slotnick "thought Mr. Scammell should save his defense for the courtroom."
"Essentially what Scammell has done is he's given a roadmap for all the places where the SEC made a mistake and he's given them an opportunity to fix any errors they've made," Slotnick said.