No Bright Line In Securities Sentencing Anymore

Law360, New York (December 13, 2007, 12:00 AM EST) -- The recent decision of the United States Court of Appeals for the Second Circuit in United States v. Rutkoske changes the way in which sentences are calculated in securities fraud cases. The decision may also mark a turn away from the previous trend of increasingly draconian sentences for defendants convicted of such charges.

Sentencing Prior To Rutkoske

Under the advisory federal Sentencing Guidelines, the amount of “loss” caused by the defendant’s conduct in large part determines the applicable offense level and the ultimate sentencing guidelines range....
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