Ex-Apple Lawyer’s Insider-Trading ‘Hail Mary’ Opposed by U.S.
Gene Daniel Levoff exits from federal court in Newark, New Jersey in 2019.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
A former Apple Inc. lawyer is making a bogus “Hail Mary” argument that insider-trading charges against him are unconstitutional, U.S. prosecutors told a federal judge in New Jersey.
Gene Levoff, previously a senior in-house lawyer specializing in corporate law for Apple, was charged last year with trading on inside information about the company’s revenue and earnings dating back to 2011. He asked U.S. District Judge William Martini in Newark last month to throw out the indictment against him, arguing that the prosecution is unconstitutional because no specific criminal law bars such conduct.