Southern District Judge Andrew Carter (See Profile) Thursday threw out the guilty pleas of four men who admitted to insider trading prior to an opinion by the U.S. Court of Appeals for the Second Circuit that clarified the law.

Daryl Payton, Thomas Conradt, David Weishaus and Trent Martin will be allowed to enter pleas of not guilty because their guilty pleas were entered before the Second Circuit delivered United States v. Newman last month (NYLJ, Dec. 11, 2014).