Preet Bharara, the U.S. Attorney in Manhattan, may have just lost his first insider trading case, but he said he is keeping the defeat in perspective.
Bharara reflected on his loss in court, and his plans for the future in an interview with CNBC at the Delivering Alpha conference Wednesday.
"When you bring a case where you think you had proof beyond a reasonable doubt, and you thought it was the right thing to do and that justice required bringing the case, and you lose it, it's always disappointing," he reflected. "And I said it was disappointing after the fact, but I think 85 and 1 is still a pretty good record."
"There have been times when people have criticized us for having a perfect record... noting that it might mean that you're not bringing hard cases. We brought a lot of hard cases," he said.
Bharara's office lost its first insider trading case last week when a jury declared Rengan Rajaratnam—younger brother of convicted insider trader Raj Rajaratnam—not guilty of conspiracy. In light of the defeat, Bharara reflected on his career thus far.