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SEC can pursue insider trading case against brokers -judge
NEW YORK, Sept 11 (Reuters) - Two New York stockbrokers must still face civil insider trading charges brought by U.S. securities regulators, a U.S. judge ruled on Friday, despite a landmark appellate ruling that torpedoed the criminal case against them.
U.S. District Judge Jed Rakoff in Manhattan rejected a bid from former Euro Pacific Capital Inc traders Daryl Payton and Benjamin Durant to throw out U.S. Securities and Exchange Commission charges that they engaged in illegal trading ahead of an IBM Corp deal.
But Rakoff said he would entertain a request from either side to adjourn the scheduled Sept. 21 trial while the U.S. Supreme Court weighs whether to review the appellate ruling.
(Reporting by Joseph Ax; Editing by Chris Reese)
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