Preet Bharara’s just about ready to accept the soul-crushing, legacy-lightening definition of insider-trading imposed on him by certain unletteredjudges. But even under its new, much more closely-demarcated description, it still means something, dammit!
And he intends to show that whatever it is that “insider trading” means today, Visium Asset Management was totally doing it.
Prosecutors are focused on the trading of several pharmaceutical stocks at the $8 billion firm, the people said. They have indicated in meetings with defense lawyers that they believe insider trading may have occurred.
Criminal charges would touch off the most significant insider-trading case brought by the office of Manhattan U.S. Attorney Preet Bharara since an appeals court ruling in 2014 made it more difficult for prosecutors to bring such cases.