Defense Bar, Profs Say 2nd Circ. At Sea On Insider Trading

Details

Publish Date:
October 16, 2017
Author(s):
  • Brush, Peter
Source:
Law360
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Summary

A group of professors and the National Association of Criminal Defense Lawyers each asked Friday for leave to weigh in on insider trading law ahead of a possible move by the full Second Circuit to revisit former SAC Capital Advisors LP manager Mathew Martoma’s 2014 conviction.

Ten professors, including former U.S. Securities and Exchange Commission boss Joseph A. Grundfest and Citizens for Responsibility and Ethics in Washington vice chairman Richard W. Painter, say a circuit panel’s recent split decision to uphold the conviction could leave Second Circuit law in an “extremely vague” state.

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