Bassam Yacoub Salman, Petitioner v. United States.

Summary

The Court affirmed the Ninth Circuit’s judgment, holding that a tipper’s gift of confidential information to a trading relative satisfies the personal‑benefit requirement for tippee liability under §10(b) and Rule 10b‑5, and that the Dirks personal‑benefit test is not unconstitutionally vague or overbroad. The decision resolves a split with the Second Circuit’s Newman approach and upholds Salman’s convictions.