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News April 13, 2015 Issue

Second Circuit Chooses Not to Review Key Insider Trading Decision

The full U.S. Court of Appeals for the Second Circuit on April 3 denied U.S. Attorney Preet Bharara’s petition that it review the December 10 decision of a Second Circuit three-judge panel that overturned the conviction of two hedge fund portfolio managers and makes it more difficult to prove insider trading. The Second Circuit gave no rationale for its decision not to review the panel’s ruling in the case, United States of America v. Todd Newman and Anthony Chiasson.

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