Petition for Rehearing of Shapiro Arato’s Victory in Newman Insider Trading Case Denied
On April 3, 2015, the United States Court of Appeals for the Second Circuit denied the government’s petition for rehearing en banc of United States v. Newman, 773 F.3d 438 (2d Cir. 2014). Both the Department of Justice and the Securities and Exchange Commission had sought rehearing of the Court’s holding on the definition of “personal benefit” and its rulings that the evidence against the defendants was insufficient.
Shapiro Arato (Alexandra Shapiro, Daniel O’Neill, and Jeremy Licht) and two other firms co-authored Mr. Chiasson’s successful opposition to the government’s petition for rehearing or rehearing en banc.