High Court Justices Voice Support for Insider-Trading Cases
- Justices hear arguments on issue for first time in 20 years
- Court could restore legal leverage to Wall Street prosecutors
Supreme Court May Refine Rules on Insider Trading
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U.S. Supreme Court justices suggested they will make it easier to prosecute Wall Street figures for insider trading as the court heard arguments on the subject for the first time in two decades.
Taking up the conviction of onetime Chicago grocery wholesaler Bassam Yacoub Salman, the justices weighed Wednesday whether someone can be sent to prison for making trades when the insider who provided the tip wasn’t looking to make any money. A majority of the eight justices indicated a willingness to uphold the conviction.