Defense Group Aids Hedge Funders In 2nd Circ. Insider Case

Law360, New York (August 26, 2013, 5:26 PM EDT) -- The jury that convicted Anthony Chiasson and Todd Newman of insider trading in Dell Inc. shares wrongly failed to determine whether the hedge fund executives knew that the original source of the tips had received some benefit, a prominent defense bar organization told the Second Circuit on Thursday.

In an amicus brief, the National Association of Criminal Defense Lawyers said the district court should have instructed the jury to determine whether Chiasson and Newman “knew the original source of the inside information leaked the information in...
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