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Mealey's Securities/D&O Liability - District Court's Order For New Trial Against Broker Overturned On Appeal

NEW YORK - A federal district court erred in granting a new trial in a criminal action against a broker-dealer charged in connection with a series of misrepresentations he made to counterparties in residential mortgage-backed securities trades because testimony from one of the defendant's counterparties was not improperly admitted and did not implicate the Second Circuit U.S. Court of Appeals' ruling in United States v. Litvak, the Second Circuit ruled Sept. 20 (United States of America v. Michael Gramins, No. 18-2007-cr, 2nd Cir., 2019 U.S. App. LEXIS 28469).
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