What are some recent high-profile cases of insider trading, and what lessons can be learned from them?

Insider trading has been a persistent problem in the financial markets, and numerous high-profile cases have occurred over the years. One of the most notable examples is the case of Raj Rajaratnam, the founder of the Galleon Group hedge fund, who was convicted of insider trading in 2011 and sentenced to 11 years in prison. The case involved numerous instances of illegal trades based on inside information, including information about mergers and acquisitions and corporate earnings.

Another well-known case is that of Martha Stewart, the lifestyle guru and media personality who was convicted of insider trading in 2004. Stewart was found guilty of selling shares of ImClone Systems after receiving inside information about an upcoming FDA decision that would adversely affect the company's stock price.

More recently, in 2020, former Senator David Perdue of Georgia was investigated for potential insider trading after he sold millions of dollars in stocks just before the COVID-19 pandemic caused a market crash. While he was ultimately not charged with any wrongdoing, the case sparked renewed interest in the issue of insider trading.

These cases highlight the importance of adhering to insider trading regulations and the severe consequences that can result from violating them. They also illustrate the need for increased vigilance and enforcement to deter potential violations and maintain the integrity of the financial markets.