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Justice Dept Asks Supreme Court To Review Insider Trading Case

The Justice Department is not giving up on its recent insider trading convictions without a fight. On Thursday of this week, the Justice Dept asked the Supreme Court to review a federal appellate court’s ruling that prosecutors and the SEC say severely limits their ability to get convictions on insider trading cases.

U.S. Solicitor General Donald Verrilli filed a petition with the Supreme Court seeking review of a ruling by the 2nd U.S. Circuit Court of Appeals in New York late last year that reversed the insider trading convictions of two hedge fund managers.

Legal analysts had commented that the appeals court ruling was a clear setback for the federal insider trading...