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2nd Circ. Affirms Ex-Brokers' IBM Insider Trading Verdict

Law360 (February 13, 2018, 6:52 PM EST) -- A Second Circuit panel Tuesday upheld a verdict against a pair of former brokers found liable for insider trading in connection with a $1.2 billion IBM deal, ruling that the jury was not required to find their testimony credible.

The Second Circuit affirmed a jury verdict finding two ex-brokers liable for insider trading in a case brought by the SEC that alleged they unlawfully traded SPSS stock in the run-up to an announcement of IBM's purchase. (AP) In a unanimous, unpublished decision, the panel affirmed the 2016...
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Case Information

Case Title

U.S. Securities and Exchange v. Payton


Case Number

17-290

Court

Appellate - 2nd Circuit

Nature of Suit

1850 STATUTES-Secur Comm Exchange

Date Filed

January 30, 2017

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