2nd Circ. Weighs Insider Trading Raps Post-Bridgegate

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Law360, New York (June 9, 2021, 11:01 PM EDT) — A former Centers for Medicare & Medicaid Services worker and two former hedge fund analysts on Wednesday urged the Second Circuit to reverse all of their insider trading convictions following the U.S. Supreme Court’s remand in light of its Bridgegate decision, saying the government can’t salvage two counts of conviction out of many it now agrees should be set aside. 

The Second Circuit in 2019 affirmed the convictions of CMS-worker-turned-consultant David Blaszczak, ex-CMS worker Christopher Worrall and two employees at $8 billion hedge fund Deerfield Management Co. LP, Theodore Huber and Robert Olan. Prosecutors said Blaszczak passed information about pending changes…