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Judge Brian M. Cogan found there was insufficient evidence of criminal intent to convict Mr. Levy, and granted Mr. Nordlicht a new trial. In July, a jury had found the men, both executives at Platinum Partners, guilty of securities fraud, conspiracy to commit securities fraud and conspiracy to commit wire fraud. The case revolved around […]
Second Circuit revives decade-old SEC insider-trading case against Nelson J. Obus, a New York hedge fund manager.
Appeals court reverses convictions of six brokers and traders in “squawk box” case.
In a setback for the government, a group of ex-stock brokers and day traders have won a reversal of their criminal convictions from a federal appeals court three years after they were found guilty of using brokerage-firm “squawk boxes” to gain an improper advantage in trading stocks. via Appeals Court Reverses Convictions in ‘Squawk Box’ […]
Appeals court reverses conviction of Joseph P. Collins, a former outside lawyer to Refco.
On May 7, 2009, the U.S. Court of Appeals for the Fourth Circuit reversed a lower court ruling dismissing a securities class action against Janus Capital Group. The Fourth Circuit held that plaintiffs’ claim against a subsidiary, Janus Capital Management, for violation of section 10(b) of the Exchange Act had been adequately pled, as was […]