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Hedge fund insider trading verdicts thrown out

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A federal appeals court threw out the guilty verdicts of two hedge fund managers central to Manhattan U.S. Attorney Preet Bharara’s investigation of insider trading, ruling jury instructions tainted their verdicts and imperiling other cases brought in his multiyear probe.

$72m Insider-Trading Convictions

72 Million Fraud Convictions Still

Level Global Investors LP co-founder Anthony Chiasson and former Diamondback Capital Management LLC portfolio manager Todd Newman were convicted of securities fraud and conspiracy for an insider-trading scheme that reaped more than $72m.

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