Advertisement

The U.S. 2nd Circuit Court of Appeals...

The U.S. 2nd Circuit Court of Appeals turned down as “premature” a request by lawyers for Drexel Burnham Lambert to remove the judge presiding over an insider trading lawsuit against the investment firm. The appeals court in New York noted that U.S. District Judge Milton Pollack is due to hold a hearing himself Tuesday on whether he has a conflict of interest. The SEC filed a lawsuit Sept. 7 accusing Drexel of insider trading and stock market manipulation. The appeals court said it wouldn’t consider the disqualification issue until Pollack himself has ruled on it.


Advertisement