Since the U.S. Court of Appeals for the Second Circuit toughened the standard for insider-trading prosecutions in U.S. v. Newman, there were signs that Southern District U.S. Attorney Preet Bharara had been put back on his heels.
After building a reputation as the nation’s most aggressive prosecutor of financial crime, Bharara had watched about a dozen insider-trading cases fall away since the 2014 ruling, as his prosecutors either dropped the charges or saw their cases dismissed under the Newman standard.
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