Article

Last remaining counts of insider trading case to be dismissed - Robert Olan fully exonerated

Published Date
Jul 25, 2023
Today, the Department of Justice (DOJ) agreed to dismiss the last remaining counts of an insider trading case they charged against Robert Olan and others in 2017.  After a split verdict at trial, multiple appeals, a confession of error by the DOJ, and the passage of more than six years, today marks the final step in Robert Olan’s long-overdue exoneration. 

Today, the Department of Justice (DOJ) agreed to dismiss the last remaining counts of an insider trading case they charged against Robert Olan and others in 2017.  After a split verdict at trial, multiple appeals, a confession of error by the DOJ, and the passage of more than six years, today marks the final step in Robert Olan’s long-overdue exoneration.

Robert was acquitted of insider trading charges by a jury in 2018, and the DOJ in 2021 confessed legal error on four related charges, but continued to pursue one “conspiracy” count against him. The DOJ has today agreed to dismiss that lone remaining count against Robert in the interest of justice. Robert was never charged by the SEC or any other regulatory agency. At the conclusion of the term of the DPA signed today, the prosecution of this innocent man will be at an end. 

From the beginning we maintained that these charges should never have been brought against Robert.  We are grateful to those who supported him through these challenging years, and who worked to help bring about today’s result.  We are pleased that Robert and his family can put this ordeal behind them.  

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This content was originally published by Allen & Overy before the A&O Shearman merger

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