A man convicted of securities fraud will have a chance at a lower sentence because a district court judge failed to consider factors other than the fraud that might have contributed to a falling stock price.

The 2nd U.S. Circuit Court of Appeals said David Rutkoske, who allegedly sanctioned hidden commissions and boiler-room tactics as owner of Lloyd Wade Securities, should not have received a 15-level sentence enhancement based on the loss calculation made by the sentencing court.

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