Jury Rejects Inside-Info Trading Claim
A federal jury has determined that a Chinese investment adviser and his firm did not use inside information in making stock purchases that netted an $8 million profit. The jury found in favor of Siming Yang and Prestige Trade Investments Ltd. on an insider trading count included in a lawsuit brought by the Securities and Exchange Commission. Thomas More Leinenweber and Justin L. Leinenweber of Leinenweber, Baroni & Daffada LLC represented Prestige Trade at trial.