2nd Circ. Reopens Insider Trading Suit Against Hedge Fund

By Jessica Corso (June 24, 2024, 12:00 PM EDT) -- The Second Circuit on Monday revived a lawsuit accusing hedge fund Raging Capital Management LLC of profiting off its position as a corporate insider of 1-800-Flowers, rejecting arguments that a recent U.S. Supreme Court ruling overturned circuit precedent allowing shareholders to sue beneficial owners who partake in short-swing trading....

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