Posts tagged ‘SECOND CIRCUIT’

Fork in the road

Whither Insider Trading?

A precise definition, an absolute prohibition or something in between?

Two senior hedge fund managers slip out of their insider trading convictions because the government couldn’t prove they knew whether the corporate insiders who initially divulged the tips they ultimately traded on were paid off for doing so.

Giving a bribe. Close-up of businessman giving money to another man in formalwear

Back to Basics for Insider Trading

Who cares whether the original tipper got a quid pro quo?

Todd Newman and Anthony Chiasson –hedge fund portfolio managers whose 2008 convictions and prison sentences1 for insider trading were just vacated by the Second Circuit Court in New York — can thank a Wall Street insurance analyst by the name of Raymond Dirks for their new-found innocence and freedom.