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IBM Insider-Trading Charges to Be Dropped Against Five Men

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Five men accused of trading on inside tips about IBM’s $1.2 billion purchase of SPSS Inc. will have all charges against them dropped after a sweeping appeals court ruling made such cases more difficult to prove.

The charges may be refiled if the “erroneous” appeal ruling is scaled back, though there’s no indication that will happen, Assistant U.S. Attorney Andrew Bauer said Thursday at a hearing in Manhattan federal court.