Acquittal, New Trial In Former Execs’ Securities Fraud Convictions Vacated

Mealey's (November 10, 2021, 11:51 AM EST) -- NEW YORK — Ruling that the evidence did not preponderate heavily against the jury verdict, the Second Circuit U.S. Court of Appeals on Nov. 5 vacated a New York federal court’s grant of new trials to two former hedge fund executives who were convicted of charges including securities fraud in an alleged scheme that involved a reinsurer and related entities; the panel also vacated a judgment of acquittal against one of the former executives....