Supreme Court Declines To Review Insider Trading Case

WASHINGTON (AP) — The Supreme Court said Monday it won't hear the Obama administration's appeal of a lower court ruling that made it tougher to prosecute people for trading on leaked inside information. The justices let stand a decision by the federal appeals court in New York last year that threw out insider trading convictions of two high-profile hedge fund managers. In legal briefs filed with the court, Solicitor General Donald Verrilli said leaving the appeals court ruling in place would "hurt market participants, disadvantage scrupulous market analysts and impair the government's ability to protect the fairness and integrity of the securities markets."

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