June 3, 2016 / 5:25 PM / 4 years ago

U.S. prosecutors agree to rare insider trading settlement refund

NEW YORK, June 3 (Reuters) - U.S. prosecutors have agreed to make a rare settlement refund of $6 million to hedge fund Diamondback Capital Management LLC after a ruling by a 2014 federal appeals court made pursuing insider trading cases tougher, according to court papers.

In documents filed on Friday in federal court in Manhattan, the office of U.S. Attorney Preet Bharara said it had agreed to return the money Diamondback paid as part of a 2012 non-prosecution deal in light of “legal developments.” (Reporting by Nate Raymond in New York; Editing by Bernadette Baum)

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