Alleged Hacker Escapes Insider Trading Charge

A man who allegedly hacked into the Thomson Financial network from Ukraine and subsequently used the non-public information cannot be penalized for "insider" trading, a federal judge has ruled. Judge Naomi Reice Buchwald ruled that defendant Oleksandr Dorozhko's alleged "hacking and trading" did not violate section 10(b) of the Securities and Exchange Act of 1934, the section that bans insider trading.

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