Panel Upholds Insider Trading Conviction Under Newman

Mealey's (January 8, 2019, 1:50 PM EST) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on Jan. 7 ruled that a federal district court did not err in denying former Goldman Sachs Group Inc. director Rajat K. Gupta’s motion to vacate his sentencing for insider trading under the Second Circuit’s ruling in United States v. Newman because the former director failed to make the necessary “requisite showings” of cause of actual prejudice in arguing that the lower court improperly instructed the jury on the claims against him (Rajat Gupta v. United States, Nos. 15-2707 and 15-2712, 2nd Cir., 2019 U.S. App. LEXIS 364)....