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U.S. prosecutors lose bid to reverse major insider trading ruling
April 3, 2015 / 3:22 PM / 3 years ago

U.S. prosecutors lose bid to reverse major insider trading ruling

NEW YORK, April 3 (Reuters) - A U.S. appeals court on Friday rejected a request by federal prosecutors to reconsider a major ruling that curtailed their ability to pursue insider trading cases and jeopardized several convictions.

The 2nd U.S. Circuit Court of Appeals in New York denied a petition by prosecutors to grant a rehearing in the case of hedge fund managers Todd Newman and Anthony Chiasson, who in December won the reversal of their insider trading convictions. (Reporting by Nate Raymond in New York; Editing by Chizu Nomiyama)

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