The Second Circuit Court of Appeals is the body which gave hope to convicted insider-traders all across this great land six years ago, when it threw into question whether the crime exists at all. This has led to much learned and not-so-learned debate on the topic, and that debate continues to this day, even though the Supreme Court and the Second Circuit itself have acknowledged that its 2014 ruling freeing two hedge fund managers was wrong. Still, having started the whole thing, and undoubtedly knowing how it will all end, it can’t help but show a bit of patience and tolerance towards a couple of hedge fund managers hoping against hope that Neil Gorsuch and Brett Kavanaugh will have managed to convince the other seven justices that they were wrong back in 2016.

Two former partners at the hedge fund Deerfield Management and a political consultant found guilty of insider trading will remain free on bail while they petition the U.S. Supreme Court for certiorari, a federal appeals court has ruled.

Deerfield execs to remain free on bail pending Supreme Court review [Reuters]

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