Insider trading convictions over healthcare leaks are voided by U.S. appeals court

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NEW YORK (Reuters) -A divided federal appeals court on Tuesday threw out the insider trading convictions of four defendants, including two former hedge fund partners, over leaks from a U.S. healthcare agency about planned changes to Medicare reimbursement rates.

In a 2-1 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan dismissed fraud and theft charges against former Deerfield Management Co partners Theodore Huber and Robert Olan, former U.S. Centers for Medicare and Medicaid Services (CMS) employee Christopher Worrall, and David Blaszczak, the founder of political consulting firm Precipio Health Strategies.

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