In a blow to the office of Southern District of New York U.S. Attorney Michael J. Garcia, a federal judge has taken the rare step of reversing a jury verdict convicting a former New York Stock Exchange trading specialist of securities fraud in a scheme known as “interpositioning.”

Southern District Judge Denny Chin, in United States v. Finnerty, 05 cr. 393, agreed Wednesday to enter a judgment of acquittal, setting aside the Oct. 26, 2006, verdict.

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