U.S. Attorney Preet Bharara’s record in insider trading cases stood at 85-1 before Shearman & Sterling’s Stephen Fishbein persuaded the U.S. Court of Appeals for the Second Circuit to exonerate Todd Newman, in a joint argument with Mark Pomerantz of Paul, Weiss, Rifkind, Wharton & Garrison for Anthony Chiasson. Fishbein argued that Newman was a remote tippee who received no personal benefit—and the appellate judges concurred that wasn’t enough to convict. The U.S. Supreme Court denied cert, and courts dismissed charges against 11 more traders convicted by Bharara.
Read the full 2016 report: Litigation Department of the Year
