High Court Won’t Take Overturned Insider Trader Conviction
Washington — The Supreme Court said Monday it won’t hear the Obama administration’s appeal of a lower court ruling that made it tougher to prosecute people for trading on leaked inside information. The justices let stand a decision by the federal appeals court in New York last year that threw out insider trading convictions of two high-profile hedge fund managers. The 2nd U.S. Circuit Court of Appeals overturned the convictions of...
Market Cheaters Upgrade From Sex to Hackers
Washington — Insider traders have long shelled out millions in bribes, manipulated friendships and even traded sex for market tips. Now, they’ve found a new way to get the data they need: employing computer hackers. “With the ubiquity of hackers now, you can find people online who’ll do what you want for a pizza,” said Slade Griffin, founder of Knoxville, Tennessee-based Cyphoss Security LLC. “You combine the financial brilliance of...
