United States v. Finnerty

DENNIS JACOBS, Chief Judge:

In this securities fraud case, the government appeals from a judgment of acquittal entered by the district judge following a jury’s guilty verdict. See United States v. Finnerty, 474 F.Supp.2d 530 (S.D.N.Y.2007) (Chin, J.). Defendant-Appellee David Finnerty was a specialist at the New York Stock Exchange (“NYSE”) who engaged in the practice of “interposition-ing” — the arbitrage of the gap between customers’ orders to buy and sell stock— to the benefit of his firm’s account and (via compensation) himself. The sole issue on appeal is whether the government proved…