The Second Circuit’s landmark opinion in U.S. v. Newman has been a thorn in the DOJ and the SEC’s side since it was handed down in December 2014. Today, the U.S. Supreme Court officially refused to accept the government’s appeal in the case, meaning that the case will stand as the law of the land–or at least the law of the Second Circuit, which is the home of Wall Street and the very active U.S. Attorney’s Office for the Southern District of New York.
