X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
2ND CIRCUIT OVERTURNS INSIDER TRADING COUNTS NEW YORK — A case arising from one of the nation’s largest insider trading schemes took an unusual turn when a federal appeals court overturned 81 of 84 guilty counts for three defendants charged with insider trading and related crimes. The Second Circuit U.S. Court of Appeals ruled that the Southern District of New York was not the proper venue for trying the three defendants from Kentucky, Jon Geibel, Chad Conner and Gordon Allen, in relation to multiple counts of insider trading. Many of the 84 charges included more than one defendant: Geibel was charged with 24 counts; Conner, with 84; and Allen, with 28. The Second Circuit panel, in a decision by Judge Rosemary Pooler, upheld the other three guilty counts, including a conspiracy charge to commit insider trading and two counts related to bribery. The case originated with great fanfare in March 2000, when prosecutors took action against 19 defendants that reaped more than $8 million in illegal profits. At the time, government attorneys called it the largest single criminal prosecution for insider trading, according to news reports. Eighteen of the 19 defendants, including Geibel, Conner and Allen, were found guilty or pleaded guilty to criminal charges. The 19th was found not guilty in March, the Securities and Exchange Commission said in a recent statement. — New York Law Journal

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.