2nd Circ. Upholds Ex-Societe Trader's Theft Conviction

Law360, New York (August 1, 2013, 5:56 PM EDT) -- The Second Circuit on Thursday upheld the conviction of a former Societe Generale SA trader who stole proprietary code for a high-frequency trading program he intended to use at his new job, distinguishing his case from an ex-Goldman Sachs Group Inc. employee who successfully challenged his conviction for similar trade secrets theft.

In a split decision, the appeals court denied Samarth Agrawal's bid to overturn his 2010 conviction for violations of the Economic Espionage Act and National Stolen Property Act. The decision comes on the heels...
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