U.S. Calls Insider-Trading Ruling ‘Harmful’ in Review Bid
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Just when Wall Street thought it was safer to trade on illicit tips, the U.S. government is pushing to reverse what it calls a harmful and unprecedented court ruling on insider trading.
U.S. Solicitor General Donald Verrilli on Thursday asked the Supreme Court to review a federal appeals court decision from New York that he said will encourage corporate insiders to pass confidential information to friends, relatives and business acquaintances.