Rajat Gupta’s second chance to upend his insider trading conviction for tipping Galleon Group hedge fund founder Raj Rajaratnam ran into trouble Wednesday at the U.S. Court of Appeals for the Second Circuit.
Defense lawyer Gary Naftalis’ attempt to employ an important circuit decision raising the bar for insider trading prosecutions was met with a series of skeptical questions from Judges Christopher Droney, Amalya Kearse and Richard Wesley—especially Wesley.
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