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U.S. judge throws out insider trading guilty pleas over IBM deal
January 22, 2015 / 9:01 PM / 3 years ago

U.S. judge throws out insider trading guilty pleas over IBM deal

NEW YORK, Jan 22 (Reuters) - A U.S. judge on Thursday threw out the guilty pleas of four men accused of engaging in an insider trading scheme ahead of an IBM Corp deal in light of a landmark appellate ruling curtailing authorities’ abilities to pursue such cases.

U.S. District Judge Andrew Carter in Manhattan said the decision from the 2nd U.S. Circuit Court of Appeals issued in December deserved “utmost consideration” and applied to the case before him.

The guilty pleas vacated include those of former Euro Pacific Capital Inc traders Daryl Payton, Thomas Conradt and David Weishaus as well as Trent Martin, a former analyst at Royal Bank of Scotland Group Plc. (Reporting by Nate Raymond in New York; Editing by Meredith Mazzilli)

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