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Defining Matters
July 27, 2023

Kramer Levin Secures Dismissal of All Remaining Charges in Medicare/Medicaid Insider Trading and Fraud Case

On July 25, 2023, Litigation partners Barry H. Berke and Dani R. James secured complete vindication for Theodore Huber of Deerfield Capital Management — an agreement with the U.S. Attorney’s Office for the Southern District of New York to dismiss with prejudice the remaining charges against our client in an insider trading and fraud case brought against Mr. Huber and three other defendants in 2018 related to alleged leaks from the Centers for Medicare & Medicaid Services. The agreement follows Mr. Huber being acquitted of the insider trading charges at trial and then the U.S. Court of Appeals for the Second Circuit reversing or vacating and remanding the remaining counts.

This long-sought victory proved what Mr. Berke and Ms. James said at the very outset of the case more than six years ago — that this was a misguided insider trading case where the prosecution had no evidence and could not prove that Mr. Huber engaged in insider trading or did anything else wrong.

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