An appeals court ruled on June 18 that two convicted hedge-fund traders, Anthony Chiasson of Level Global Investors and Todd Newman of Diamondback Capital Management, could remain out of prison as they appeal their convictions. The ruling was heartening to the two men, both of whom are facing long separations from their families. But within the U.S. Attorney’s Office and the Securities and Exchange Commission, the decision triggered something akin to a mass anxiety attack, as it casts uncertainty on some of the strongest potential legal avenues the government has to charge SAC Capital founder Steven Cohen.
via Is the Case Against SAC's Steven Cohen Falling Apart? – Businessweek.