Reuters – California hedge fund manager Doug Whitman, the first defendant in the broad U.S. crackdown on insider trading to take the stand in his own defense, on Wednesday [Feb. 19] failed to persuade a federal appeals court to overturn his conviction.
The 2nd U.S. Circuit Court of Appeals rejected Whitman’s arguments that the insider trading conviction was tainted because the trial judge instructed jurors improperly and refused to admit various testimony from experts and witnesses.
