U.S. prosecutors said they are prepared to drop charges against five men accused of engaging in insider trading ahead of an IBM Corp acquisition, citing a major appellate court ruling limiting authorities’ abilities to pursue such cases.
In an unusual letter late Wednesday, prosecutors under Manhattan U.S. Attorney Preet Bharara asked U.S. District Judge Andrew Carter to dismiss the indictment.
via U.S. prepared to drop insider trading charges over IBM deal: filing | Reuters
