Engelmayer denied cross-motions for summary judgment by the SEC and AT&T Inc, in a case in which the SEC alleges that AT&T violated Reg FD by reaching out to selected financial analysts in early 2016 to warn that lower-than-expected smartphone sales would impact the company’s quarterly revenue. As my Reuters colleague Jon Stempel reported on Thursday, Engelmayer’s decision means that the SEC’s case will proceed to a trial unless the two sides reach a settlement.
https://www.reuters.com/legal/government/no-att-you-dont-have-constitutional-right-tip-analysts-judge-2022-09-09/