9th Circuit: Fund’s Insider Trading Claims Against Broadcaster’s Investors Fail

(July 26, 2024, 11:11 AM EDT) -- SAN FRANCISCO — A California federal judge did not err in dismissing allegations of insider trading brought by two hedge funds against large investors in a satellite communications company, a Ninth Circuit U.S. Court of Appeals panel held, agreeing with the lower court judge that the hedge funds failed to show that the investors possessed material nonpublic information about a meeting the company had with the Federal Communications Commission....

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