Supreme Court's Denial of Cert in Newman Favors Insider Trading Defense
October 29, 2015
Based on the Supreme Court's October 5, 2015, denial of certiorari, the Second Circuit's ruling in U.S. v. Newman - a decision widely considered to make insider trading convictions more difficult for the government to prove - remains intact. Against a host of successful insider trading prosecutions by the Department of Justice, the Second Circuit's decision in Newman was a sudden, and perhaps unexpected, development that severely limited the government's ability to pursue insider trading charges in many instances.
