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The end of insider trading as we know it: Baltimore Orioles player among those looking to clear names
Last month, a court ruling sharply curtailed the ability of prosecutors to pursue insider trading cases. In only a few weeks, it has upended life for regulators who work to put corrupt financiers in jail. A December ruling from the 2nd US circuit court of appeals in New York – one of the top appeals courts in the country – made it much harder for prosecutors to prove insider trading had occurred. The appeals court required prosecutors to prove that illicit stock tips were shared to create a specific “benefit” to the person who leaked the advance information. The three-judge panel held that prosecutors also ... (full story)