Even with prosecutors facing potentially tougher standards in insider trading cases, it’s still rare these days for a jury to clear an accused inside trader of criminal charges, especially after three admitted lawbreakers pointed the finger at him during trial. But that’s what happened in Atlanta federal court this week, when Todd Harrison of McDermott Will & Emery won an acquittal for a retired hedge fund manager.
Handing down a full defense verdict on Monday, a jury found Steven Slawson not guilty on 34 counts of conspiracy, wire fraud and securities fraud. The government had brought its case against Slawson, the founder of New Jersey hedge fund Titan Capital Management LLC, as part of a larger insider trading and accounting fraud investigation involving children’s clothing company Carter’s Inc. Slawson was accused of raking in about $1.7 million from insider trading in Carter stock between 2005 and 2010.
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