Prison Justice
Decide acquits lawyer on insider buying and selling prices after co-defendant discovered not responsible
A lawyer who was previously on the school at Loyola College Chicago has persuaded a federal decide that he deserves a judgment of acquittal in an insider buying and selling case due to inconsistent verdicts by the jury that had convicted him in January. Picture from Shutterstock.
A lawyer who was previously on the school at Loyola College Chicago has persuaded a federal decide that he deserves a judgment of acquittal in an insider buying and selling case due to inconsistent verdicts by the jury that had convicted him in January.
U.S. District Decide Manish S. Shah of the Northern District of Illinois entered a judgment of acquittal Tuesday for David Sargent, who had been a member of Loyola College Chicago’s Faculty of Environmental Sustainability, Reuters studies.
The identical jury that convicted Sargent had acquitted his buddy and co-defendant Christopher Klundt, who was accused of tipping Sargent about nonpublic info relating to Chegg Inc., the place Klundt was then a supervisor.
Sargent maintained that he was curious about Chegg inventory as a result of it was a web-based schooling firm, and the COVID-19 pandemic was starting. He had made different pandemic-related trades, in line with Sargent’s March motion for acquittal filed within the Northern District of Illinois.
At trial, Klundt had denied passing alongside info. Klundt was acquitted of all prices, whereas Sargent was convicted on six counts of insider buying and selling.
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