Bloomberg Law
April 27, 2020, 9:14 PM

Ex-Apple Lawyer Calls Insider-Trading Charges Unconstitutional

Malathi Nayak
Malathi Nayak
Bloomberg News

A former Apple Inc. in-house attorney says his insider-trading prosecution is unconstitutional because no specific criminal law bars such conduct.

Gene Levoff on Monday asked a New Jersey federal judge to dismiss his 2019 indictment in which prosecutors accused him of repeatedly trading on information he gleaned about Apple’s revenue and earnings dating back to 2011.

“The definition of insider trading is wholly judge-made: Every element of the crime and the scope of regulated individuals subject to it was divined by judges, not elected legislators,” Levoff’s lawyer Kevin Marino said in a filing. “This alone renders the criminal prosecution of ...