Virginia Jury Instruction — 4.4.1 Rule 10(b— - 5(a) Device, Scheme Or Artifice To Defraud Insider Trading generally refers to a legal instruction given to the jury in cases involving fraudulent activities related to insider trading in Virginia. This instruction aims to educate the jury about the specific legal requirements and elements of the offense. It assists them in making an informed decision based on the evidence provided during the trial. The instruction covers various key aspects of the offense including the device, scheme, artifice to defraud, and the elements associated with insider trading. Insider trading refers to the illegal practice of trading stocks or securities based on nonpublic information not generally available to the public. It involves using confidential information obtained through one's position within a company or organization to gain an unfair advantage in the stock market, resulting in financial gain or avoiding losses. The Virginia Jury Instruction — 4.4.1 Rule 10(b— - 5(a) Device, Scheme Or Artifice To Defraud Insider Trading encompasses different types or variations of fraudulent activities associated with insider trading. These may include: 1. Classic Insider Trading: This type of insider trading involves the buying or selling of securities based on nonpublic information by insiders, such as executives, employees, or directors of a company. It violates the principle of fairness in the capital markets. 2. Tipping: Tipping occurs when an insider provides nonpublic information to an outsider, enabling them to trade securities based on that information. Both the tipper (insider) and the tipped (outsider) can be held liable for insider trading. 3. Misappropriation: Misappropriation refers to the unauthorized use of confidential information obtained from a source outside a company. This includes situations where an individual breaches a fiduciary duty owed to the source of the information. 4. Front-Running: Front-running involves a securities' trader using nonpublic information acquired through their position to execute trades for their own benefit before executing orders for clients who are unaware of the information. This unfairly prioritizes their personal gains over the interests of their clients. When a case involves any of these types of insider trading, the Virginia Jury Instruction — 4.4.1 Rule 10(b— - 5(a) Device, Scheme Or Artifice To Defraud Insider Trading is provided to the jury, ensuring they understand the nature of the offense and the elements that need to be proven beyond a reasonable doubt. The instruction allows the jury to assess the evidence presented and decide whether the defendant engaged in fraudulent practices constituting insider trading under Virginia law.