U.S. denied redo on controversial insider trading case

April 3, 2015 4:15 PM

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A New York federal appeals court has denied Manhattan U.S. Attorney Preet Bharara a second shot at arguing that two hedge fund managers convicted of insider trading in 2012 deserve to go to jail.

In a simple three-sentence document issues on Friday, the U.S. Second Circuit Court of Appeals said Bharara's petition for rehearing in the case is denied.

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