1,000,000 + Attorneys and Legal Staff - Legal employers hire more people on LawCrossing than any other site.
Samsung Settles False Claims Act Allegations for $2.3 Million
Samsung Settles False Claims Act Allegations for $2.3 Million
Texas Governor Rick Perry to be Booked on Criminal Charges
Texas Governor Rick Perry to be Booked on Criminal Charges
Fate of Police Chokehold Case Resting on Grand Jury
Fate of Police Chokehold Case Resting on Grand Jury
Violations of Labor Laws in California Leads to Lawsuits Against Lingerie Football League
Violations of Labor Laws in California Leads to Lawsuits Against Linge...
Your profile matches an open legal position. Apply now!
Job Listings

Defendants from Insider Trading Case Ask for Convictions to be Overturned

facebooktwittergoogle_plusredditpinterestlinkedinmail

The attorneys for two traders found guilty of insider trading have asked the 2nd U.S. Circuit Court of Appeals to vacate the convictions, which were handed down in 2011. The two convicted are Zvi Goffe and Michael Kimelman. Goffe is a former securities trader who worked at the hedge fund Galleon Group. Kimelman is the co-founder of trading firm Incremental Capital, according to Reuters.

The lawyer for Goffer also argued that the sentence of 10 years from U.S. District Judge Richard Sullivan should be dismissed. Also sentenced in the case was Raj Rajaratnam, the founder of Galleon. Alexander Dudelson argued these points in front of a three-judge panel.

“It’s the appellant’s position he was punished for going to trial,” he said.

The Federal Bureau of Prisons said that Goffer is serving his time at a federal penitentiary in Lewisburg, Pennsylvania.

What

 job title, keywords

Where

 city, state, zip



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


According to Circuit Judge Richard Wesley said that Goffer paid kickbacks to lawyers at the firm of Ropes & Gray for info on corporate acquisitions.

“He’s 34 years old, the age of one of my children,” Wesley said. “You’d think he’d know better.”

The lawyer for Kimelman, Michael Sommer, said that prosecutors failed to present evidence that his client knew he received insider information prior to making trades in stock of 3Com in the fall of 2007.

“There are thousands of recordings, and on not one is there a tip,” Sommer said.

  • Timmy J

    They would have to overturn the whole lot of them, I think there is another person’s appeal that would free everyone if successful

Defendants from Insider Trading Case Ask for Convictions to be Overturned by

facebooktwittergoogle_plusredditpinterestlinkedinmail

Tagged: , ,

Posted by on March 12, 2013. Filed under Legal News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Contract Employment Law Litigation Attorney
USA-TX-Dallas

Our client is seeking our help finding an employment law litigation attorney with 5 years experience.  This is a long term contract position which has a high probability of converting to a direct...