Robert Olan and Theodore Huber, who traded health-industry stocks on the tips they got about Medicare reimbursement rates, on Monday asked the full federal appeals court in Manhattan to reconsider an earlier ruling by a three-judge panel, citing the “extraordinary consequences” if it’s not reversed.
Olan and Huber want a review of a Dec. 30 decision by the panel, which ruled 2-1 that confidential information about future regulatory moves is property that can be the subject of a prosecution when it’s stolen and used to profit in the stock market.
via Whistle-Blowers Should Fear Insider-Trade Ruling, Defendants Say.
