But the striking omission in Verrilli’s certiorari petition is its failure to directly take issue with the other portion of the Second Circuit’s ruling, in which that court found that the government presented “no evidence” that Newman and Chiasson knew the tipper had received a personal benefit. For that reason, even if the Supreme Court were to take the case and agree with Verrilli that the Second Circuit’s definition of personal benefit was wrong, it seems that Newman and Chiasson would still walk, for lack of evidence that they knew that their tippees at Dell and Nvidia received any personal benefit.
That’s a problem because, under the Constitution, federal courts aren’t supposed to render “advisory opinions”….
‘Enforcement 40’ for 2020
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