Santa, in the guise of the 2nd U.S. Circuit Court of Appeals, brought an early present to the white collar bar in the form of the long-anticipated decision in United States v. Newman, 13-1837 (Dec. 10, 2014), a case that promises to be a major lump of coal for insider trading prosecutors.
Newman asked what prosecutors have to prove to convict a trader who is not himself an insider but trades on insi...
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