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United States of America v. Newman

  1. December 10, 2014

    2nd Circ. Rebalances Insider Trading Law

    The stinging rebuke the Second Circuit handed to federal prosecutors Wednesday will clamp down on how aggressively the government goes after far-flung recipients of inside information, but it won't end the wave of prosecutions, nor does it spell definite freedom for those convicted already, attorneys say.

  2. December 10, 2014

    2nd Circ. Raises Bar For Insider Trading Prosecutions

    In a crushing loss for Preet Bharara, the hard-charging Manhattan U.S. attorney who has staked his legacy on a five-year insider trading crackdown, the Second Circuit on Wednesday raised the bar for prosecuting individuals who are one or more layers removed from sources of confidential information, overturning the convictions of two hedge fund managers.

  3. April 22, 2014

    2nd Circ. Questions 'Amorphous' Insider Trading Law

    The U.S. government's years-long insider trading crackdown hit a potential snag on Tuesday, as a Second Circuit panel sharply questioned its legal theory that recipients of inside tips can be found guilty even if they didn't know that the tipper received a personal benefit.

  4. April 18, 2014

    2nd Circ. Could Curtail Insider Trading Prosecutions

    An impending Second Circuit ruling on whether the government should have to prove that recipients of insider trading tips knew their source stood to benefit from the disclosure could drastically limit prosecutors' ability to pursue charges against those further down the "daisy chain" from an illegal tip, experts say.

  5. December 19, 2013

    Alleged Steinberg Conspirators Claim Innocence In 2nd Circ.

    Two alleged co-conspirators in the insider trading case against SAC Capital Advisors LP manager Michael Steinberg asked the Second Circuit on Wednesday to reverse their convictions, arguing that prosecutors had failed to prove they knew the source of technology stock tips received some personal benefit.