On December 10, 2014, a federal appeals court overturned the insider trading convictions of two former hedge fund traders, Todd Newman and Anthony Chiasson, based on the "erroneous" instructions given to jurors by the trial judge.[63] The decision was expected to affect the appeal of the separate insider-trading conviction of former SAC Capital portfolio manager Michael Steinberg[64] and the U.S. Attorney[65] and the SEC[66] in 2015 did drop their cases against Steinberg and others.