As
we
discussed
back
in
January,
it’s
good
to
have
friends
who
know
things.
In
particular,
it’s
good
to
have
friends
who
know
material
non-public
things
about
publicly-traded
companies
thanks
to
their
board
member
cousins
and
parents
when
you’re
running
a
hedge
fund,
like
Kris
Bortnovsky
does.
At
least,
it’s
good
until
the
Feds
figure
the
whole
thing
out
and
that
friend
fingers
you,
as
Bortnovsky’s,
David
Schottenstein,
did.
But
do
you
know
what’s
even
better?
When
that
friend-turned-foe
decides
prison
will
be
less
deleterious
to
his
fragile
mental
health
than
having
to
make
good
on
turning
on
his
buddy.
Schottenstein
last
week
withdrew
from
his
cooperation
agreement,
saying
psychologists
and
a
therapist
advised
him
that
testifying
against
his
friend
Shapiro
at
his
May
2023
trial
would
“exacerbate”
his
mental
health
issues….
Prosecutors
left
open
the
possibility
of
renewing
the
charges,
saying
their
investigation
was
ongoing.
This
also
means
that
the
aforementioned
Ryan
Shapiro,
founder
of
inmate
transfer
service
provider
JPay,
won’t
have
the
opportunity
to
do
some
on-the-yard
testing
of
his
product,
at
least
for
now.
U.S.
Drops
Insider
Trading
Case
Against
Two
Florida
Men
[Reuters
via
U.S.
News]
For
more
of
the
latest
in
litigation,
regulation,
deals
and
financial
services
trends,
sign
up
for
Finance
Docket,
a
partnership
between
Breaking
Media
publications
Above
the
Law
and
Dealbreaker.