Opinion ID: 792809
Heading Depth: 2
Heading Rank: 3

Heading: Judgment of acquittal on Count Nine

Text: 39 Following the close of evidence and before summations, the District Court granted Stewart's motion for judgment of acquittal, pursuant to Fed.R.Crim.P. 29, on Count Nine, which charged Stewart with defrauding MSLO investors by making false public statements in June 2002 ( see Point B.3, supra ) for the purpose of deceiving investors and thwarting the decline in the value of her own MSLO stock. See United States v. Stewart, 305 F.Supp.2d 368 (S.D.N.Y.2004). The District Court found that the evidence was insufficient to establish that Stewart intended to defraud investors when she issued the statements, holding that a reasonable juror could not, without resorting to speculation and surmise, find beyond a reasonable doubt that Stewart's purpose was to influence the market in MSLO securities. Id. at 376.