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"In each case, Newman and Chiasson were several steps removed from the original leak, receiving the inside information only after it had been first relayed betw

• roymurdock 11y ago
  This is inconsequential. If I were a hedge fund manager looking for insider info, I wouldn't be dumb enough to go directly to people within the company, unless I was out golfing with the CEO and he let something slip in conversation. I would hire an analyst with ties to any employees in the organization to ask around. Which is probably what happened here. What other reason would there be for the analysts to acquire information and then go to the hedge fund managers with it? You can't wash your hands clean by proxy if you still know what you are doing is wrong. "The judge also agreed with the government that it was required to show only that the defendants [Newman and Chiasson] knew that insiders had leaked the information in violation of their duties to the company – the government did not have to prove the defendants actually knew the insiders had received a personal benefit in exchange." - this was the original logic under which they were convicted, and I think it makes a lot more sense than the final ruling.