International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Wednesday, December 17, 2014

2d Circuit Appeals Upsets Verdict - Major Setback to Crackdown on Insider Trading

The New York Times Deal Book reported: The convictions had racked up in recent years, 85 people all told, as Manhattan prosecutors swept through Wall Street with what they described as clear-cut evidence of insider trading.

But on Wednesday, a federal appeals court upended the government’s campaign. And in the process, the court rewrote the insider trading playbook, imposing the greatest limits on prosecutors in a generation.

In a 28-page decision, the United States Court of Appeals for the Second Circuit in Manhattan overturned two of the government’s signature convictions, the case against the former hedge fund traders Todd Newman and Anthony Chiasson, ... read the full NYT story here

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