In April, Levoff’s attorney, Kevin Marino, founding partner at Marino, Tortorella & Boyle in Chatham, New Jersey, moved to dismiss the charges arguing that insider trading has never been made into law by Congress. He said the definition of insider trading has been created by judges and the prosecution of insider trading is unconstitutional.

In May, prosecutors filed a response saying the motion was a “Hail Mary” and the arguments in the motion “fly in the face of binding Supreme Court precedent.”