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A federal judge in San Francisco threw out much of an insider trading case last week, ruling that the government can't prosecute a corporate outsider tipped off through his membership in an exclusive club. Judge Charles Breyer concluded that Keith J. Kim won't have to face two counts of securities fraud since he didn't have a fiduciary-like relationship with the source of the information.
November 27, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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