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WASHINGTON (AP) ' The Supreme Court said Monday it won't hear the Obama administration's appeal of a lower court ruling that made it tougher to prosecute people for trading on leaked inside information. Sam Hananel, The Associated Press WASHINGTON (AP) ' The Supreme Court said Monday it won't hear the Obama administration's appeal of a lower court ruling that made it tougher to prosecute people for trading on leaked inside information. The justices let stand a decision by the federal appeals court in New York last year that threw out insider trading convictions of two high-profile hedge fund managers.

Circuit Court of Appeals overturned the convictions of Anthony Chiasson, of Manhattan, and Todd Newman, of Needham, Massachusetts, after finding they were too far removed from inside information to be prosecuted. Icom Rs-ba1 Software Free. Prosecutors warned the ruling could hinder the government's campaign to curb insider trading on Wall Street, a crackdown that has resulted in more than 80 arrests and 70 convictions over several years.

Chiasson, who co-founded Level Global Investors based in Greenwich, Conn., and Newman, who had worked for Diamondback Capital Management based in Stamford, Conn., traded on tips from insiders on stock in technology companies Dell Inc. And Nvidia Corp. That generated $72 million in profits. The former portfolio managers were both convicted in December 2012. The appeals court said prosecutors failed to present enough evidence the men willfully engaged in insider trading or conspired to break the law.