United States v. Whitman

MEMORANDUM ORDER '

JED S. RAKOFF, District Judge.

On August 20, 2012, following a three-week trial, the jury in this case convicted defendant Douglas Whitman of two counts of conspiracy to commit securities fraud and two counts of substantive _ securities fraud. In so doing, the jury found that Whitman, a second-level tippee, traded and conspired to trade on material non-public information that he received from two direct tippees of insiders at three publicly traded companies — insiders whom, Whitman knew, received or expected to receive personal benefits in return. The Second Circuit affirmed…