Litigation » SCOTUS May Be Asked To Define Insider Trading

SCOTUS May Be Asked To Define Insider Trading

June 17, 2015

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U.S. Attorney Preet Bharara may ask the Supreme Court to reconsider a lower court ruling that has the potential to undo his convictions of financial industry figures for insider trading. Bharara’s office secured long prison sentences for two hedge fund portfolio managers in 2012. When the case was overturned on appeal the court advanced a much more stringent definition of insider trading that the government would have to meet in such cases, a decision Bharara is contemplating appealing to the Supreme Court. “If the Supreme Court agrees to hear the case, it could well issue a ruling that’s even worse for Bharara than what he has to work with now,” Sheelah Kolhatkar writes for BloombergBusiness.

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