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Hedge fund insider trading verdicts thrown out

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A federal appeals court threw out the guilty verdicts of two hedge fund managers central to Manhattan U.S. Attorney Preet Bharara’s investigation of insider trading, ruling jury instructions tainted their verdicts and imperiling other cases brought in his multiyear probe.

Level Global, SAC Fund Managers Ruled Co-Conspirators

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A Level Global Investors co- founder and an SAC Capital Advisors LP fund manager were ruled to be co-conspirators in a scheme to swap illegal stock tips, clearing the way for prosecutors to introduce their e-mails at the insider-trading trial of two other men.

Hedge Fund Founder Faces The Music

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Almost two years ago, Level Global Investors LP and Diamondback Capital Management LLC were among four hedge funds raided by the Federal Bureau of Investigation as part of a nationwide crackdown on insider trading.

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