Dealbook reports that:
Federal prosecutors are seeking to reverse, or at least narrow, a crucial insider trading ruling that overturned the convictions of two hedge fund managers last month, DealBook’s Matthew Goldstein and Ben Protess report. Preet Bharara, the United States attorney in Manhattan, is asking the same three-judge panel that issued the ruling to revisit its decision, according to a filing on Friday. As an alternative, Mr. Bharara’s filing proposes the legal equivalent of a do-over in a process known as en banc.
I hope that the court will deny these requests. As I have explained before, Newman was demonstrably correct. See this post for details.
