Character Testimony Bid Nixed In Insider Trading Case

Law360, New York (October 5, 2010, 11:54 AM EDT) -- A magistrate judge will not allow a Florida doctor to present character testimony to defend himself against U.S. Securities and Exchange Commission allegations that he illegally traded on inside information about the acquisitions of Ivax Corp. and Correctional Services Corp.

U.S. Magistrate Judge Linnea R. Johnson of the U.S. District Court for the Southern District of Florida ruled Monday that Dr. Zachariah P. Zachariah cannot introduce evidence that he is a truthful person at his ongoing trial.

In the ruling Monday, Judge Johnson said Zachariah's character...
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