Ex-Simpson Thacher Clerk Upends Insider Trading Sentence

Law360 (February 14, 2018, 4:21 PM EST) -- The Third Circuit on Wednesday vacated a 46-month prison sentence for a former Simpson Thacher & Bartlett LLP managing clerk convicted over his role in a $5.6 million insider trading scheme, on the same day that a district court judge reduced the civil penalty sought by the U.S. Securities and Exchange Commission from $2 million to $25,000.

The Third Circuit's ruling came down hours before a hearing in Trenton federal court that saw the same judge who was responsible for the now-invalidated sentence dramatically chop a civil penalty...
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