Law360 (November 7, 2019, 12:41 PM EST) -- Manhattan federal prosecutors have dropped insider trading charges against a former portfolio manager at SAC Capital who was headed to trial after getting his 2013 guilty plea vacated for falling short of the legal bar set out in the Second Circuit's Newman decision.
In a request filed Thursday, prosecutors dropped their case against Richard Lee, citing the fact that the evidence is now 10 years old and that he has paid penalties to the U.S. Securities and Exchange Commission.
"The government has determined that it is in the public interest to dismiss the charges pending against Lee," prosecutors wrote in the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!