On Dec. 27, 2022, the Second Circuit published its long-anticipated decision inUnited States v. Blaszczak, which had been argued more than 18 months earlier. The Circuit vacated defendants'
Second Circuit Narrows Reach of Wire Fraud and Insider Trading Prohibitions
The Second Circuit's long-anticipated decision in United States v. Blaszczak limits the government's ability to bring fraud or insider trading prosecutions where the information used to achieve an advantage is regulatory information held by the government. It also brings the Second Circuit in greater alignment with the Supreme Court's wire fraud jurisprudence.

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