US Court Overturns Insider Trading Convictions of Todd Newman and Anthony Chiasson


Eugene Goldman said that the Second Circuit’s decision to vacate the insider trading convictions of two former hedge fund managers “will burden the government with the difficulty of showing that a remote tipee was aware that the tipper shared the information for their personal gain.” Mr. Goldman, a former SEC enforcement official, said that although the decision involved “a criminal case, read literally, the standards imposed to prove a violation may also apply to SEC enforcement cases.” Read the full article