It’s starting to look like all the appellate hired guns in the world can’t dent the Manhattan U.S. attorney’s undefeated record in insider trading trials.
The latest star advocate to come up short is Seth Waxman of Wilmer Cutler Pickering Hale and Dorr, who on Tuesday lost a bid to vacate former Goldman Sachs & Co. director Rajat Gupta’s 2012 conviction. In a 48-page ruling, the U.S. Court of Appeals for the Second Circuit rejected all of Waxman’s arguments that the Gupta verdict was flawed, including his insistence that government wiretaps implicating Gupta were inadmissible hearsay.
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