Tag: Newman

Newman Appears to Narrowly Survive the Second Circuit’s Rehearing of Martoma | BakerHostetler

As we indicated in our takeaways to our previous article, relationships will remain at the forefront of parties’ arguments and defenses. This remains true today because, as the dissent stated and the majority acquiesced, “Newman remains good law.” Yet whether such analysis will be undercut by the majority opinion in Martoma likely depends on whether this decision is reviewed by…

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Bharara brushes off reports of insider trading ruling’s damage | POLITICO

Bharara said news reports calling this a major setback amounted to modern “yellow journalism” and belied the nature of his office’s work in prosecuting cases based on the state of the law. “If Congress tomorrow adopted The Wall Street Journal editorial page’s view that insider trading is awesome — which appears to be their view — then we wouldn’t prosecute…

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Insider trading charges dropped against SAC’s Steinberg | New York Post

Manhattan US Attorney Preet Bharara on Thursday dismissed all charges against Michael Steinberg, who was convicted by a federal court jury in December 2013 of five counts of insider trading. The move by Bharara was not unexpected, as similar verdicts against Anthony Chiasson and Todd Newman, traders at two other hedge funds, were overturned by an appellate court. The Supreme Court…

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Hillary Clinton Pledges to Redefine Insider Trading, Self-Fund SEC | Compliance Week

The Supreme Court announced this week that it will let stand the Second Circuit’s landmark insider trading decision in U.S. v. Newman. Hillary Clinton, however, says that as President she would not do the same, and that she would propose legislation to “clarify” the law post-Newman. via Hillary Clinton Pledges to Redefine Insider Trading, Self-Fund SEC | Compliance Week

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