Ex-Simpson Thacher Clerk to Get New Insider Trading Sentence

• Former clerk will get new sentence in insider trading case

• Clerk was “totally unaware” of third party’s use of tips, lawyer says

A former Simpson Thacher & Bartlett LLP managing clerk who pleaded guilty in 2015 to insider trading may serve less time after a federal appeals court vacated his sentence and returned the case for resentencing.

The district court’s factual findings weren’t sufficient to support Steven Metro’s 46-month sentence, so resentencing is appropriate, according to the U.S. Court of Appeals for the Third Circuit’s Feb. 14 opinion.

Metro pleaded guilty to a five-year insider trading scheme in which he ...