The impact of U.S. v. Newman has already been felt in courtrooms across the country, as well as with respect to investigations that are no longer being pursued.  The Supreme Court’s recent denial of certiorari will provide no change to the gloomy landscape for prosecution of insider trading cases set in place by Newman.  In a guest article, the second in a two-part series, Dechert partners Robert J. Jossen and Michael J. Gilbert discuss a recent Ninth Circuit decision the government asserts conflicts with Newman and assess the problems that lie ahead for insider trading investigations and prosecutions in a post-Newman world.  The first article in the series analyzed the Newman decision and the government’s unsuccessful certiorari petition.  For more from Gilbert, see “The SEC’s Investigation of FCPA Violations and Sovereign Wealth Funds – Implications for Hedge Funds,” Hedge Fund Law Report, Vol. 4, No. 4 (Feb. 3, 2011).  For insight from Jossen, see “For Hedge Fund Managers in a Heightened Enforcement Environment, Internal Investigations Can Help Prevent or Mitigate Criminal and Civil Charges,” Hedge Fund Law Report, Vol. 2, No. 47 (Nov. 25, 2009).  The Hedge Fund Law Report and Dechert will be co-sponsoring a panel entitled “The Evolving Role of GCs and CCOs in Marketing and Investor Management in Europe” to be held in London on November 17, 2015.  For more information, click here.  To register, click here.