A judge’s order that defendants in a civil insider trading case turn over to the Securities and Exchange Commission wiretaps they obtained in discovery in their criminal case came under fire Thursday at the 2nd U.S. Circuit Court of Appeals.
A lawyer for Raj Rajaratnam and Danielle Chiesi, central figures in a wide-ranging insider trading prosecution that has already netted 11 guilty pleas, asked a three-judge panel to reverse Southern District Judge Jed S. Rakoff’s February order compelling production of the wiretaps.
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