US authorities face new fallout from insider trade ruling

December 11, 2014 - Finding Carter

U.S. prosecutors, already smarting from a appeals justice statute that weakens their ability to moment down on destiny insider trading, on Thursday faced widening fallout from a preference as some existent cases threatened to unravel.

Lawyers for some defendants hinted they competence find to repel guilty pleas, and a Manhattan sovereign decider questioned if 4 such pleas were affected.

The moves were a latest repercussions from a 2nd U.S. Circuit Court of Appeals anticipating that prosecutors presented deficient justification to crook Todd Newman, a former portfolio manager during Diamondback Capital Management, and Anthony Chiasson, co-founder of Level Global Investors.