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Clicks And Tricks: How Computer Hackers Avoid 10b-5 Liability, Ryan H. Gilinson
Clicks And Tricks: How Computer Hackers Avoid 10b-5 Liability, Ryan H. Gilinson
Brooklyn Law Review
This note argues that computer hackers who sell inside information instead of trading on it themselves, referred to in the note as hacker-sellers, avoid liability under Section 10(b) of the Securities Exchange Act and SEC Rule 10b-5. Rule 10b-5 criminalizes the use of a manipulative or deceptive device “in connection with the purchase or sale of any security.” Hacker-sellers fall outside the scope of this rule for two reasons. First, the type of hacking employed by hacker-sellers is not always “deceptive,” and only the forms of hacking which deceive the computer into thinking an authorized user is seeking access are …
Cannibal Cop Out: The Computer Fraud And Abuse Act, Lenity, Quasi-Strict Liability, Draconian Punishment And A Surgical Solution, Charles S. Wood
Cannibal Cop Out: The Computer Fraud And Abuse Act, Lenity, Quasi-Strict Liability, Draconian Punishment And A Surgical Solution, Charles S. Wood
Brooklyn Law Review
The Second Circuit has recently joined in a longstanding circuit split regarding the interpretation of the phrase “exceeds authorized access” under the Computer Fraud and Abuse Act (CFAA). The split centers around whether an otherwise authorized computer user who violates usage restrictions has exceeded authorized access. In United States v. Valle, the Second Circuit answered the question in the negative. Upon finding the phrase to be ambiguous, the Second Circuit invoked lenity, and therefore narrowly construed their interpretation in the defendant’s favor. This note argues that the Second Circuit was correct to apply lenity as the plain meaning of the …