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Quotation from Dirks v. SEC by Supreme Court of the United States
“This innovation excuses a knowing and intentional violation of an insider's duty to shareholders if the insider does not act from a motive of personal gain.”
Dirks v. SEC, Dissent of Justice Blackmun (excerpt) (U.S. Reports text (Legal Information Institute))
Justice Blackmun, joined by Justices Brennan and Marshall, objects to the personal-benefit requirement.
Citation: "This innovation excuses a knowing and intentional violation of an insider's duty to shareholders if the insider does not act from a motive of personal gain." — Supreme Court of the United States, Dirks v. SEC, Dissent of Justice Blackmun (excerpt) (U.S. Reports text (Legal Information Institute)). (id dirks-v-sec-q5)
Portrait: US Supreme Court Justice Lewis Powell - 1976 official portrait, Color negative by Robert S. Oakes, Public domain.
