High Court Asked To Remand Securities Fraud Appeal For Review Under Kelly

Mealey's (December 22, 2020, 3:56 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court should grant two petitions for writ of certiorari alleging that the Second Circuit U.S. Court of Appeals erred in holding that information regarding proposed government regulations is “property” or a “thing of value” under the federal fraud and conversion statutes but should then vacate the Second Circuit’s ruling and remand the action for further review in light of the Supreme Court’s recent holding in Kelly v. United States, Acting U.S. Solicitor General Jeffrey B. Wall argues in a two-page memorandum filed in the Supreme Court on Nov. 24 (Robert Olan and Theodore Huber v. United States, No. 20-306, and David Blaszczak v. United States, No. 20-5649, U.S. Sup., 2020 U.S. S. Ct. Briefs LEXIS 7547)....