Feds Expanding Insider Trading Law, Salman Tells High Court

Law360, New York (September 2, 2016, 5:25 PM EDT) -- Illinois trader Bassam Salman has told the U.S. Supreme Court that the federal government is trying to broaden insider trading law, urging the court to instead affirm a narrow definition of liability and overturn his own insider trading conviction.

Salman’s Wednesday reply brief in his closely watched bid to vacate his conviction for insider trading on information relayed by a friend argued that the U.S. Department of Justice’s brief in the case shows that the government is trying to “vastly expand” the circumstances where traders can...
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