2nd Circ. Affirms Toss Of Facebook IPO Insider Trading Suit

By John Kennedy (November 3, 2016, 6:34 PM EDT) -- The Second Circuit on Thursday affirmed a New York federal judge's dismissal of an insider trading suit against Goldman Sachs, JPMorgan Chase and Morgan Stanley over Facebook's initial public offering, saying the Securities Exchange Act doesn't require the banks to disgorge certain profits connected to the IPO....

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