The Second Circuit essentially reversed its year-old decision in U.S. v. Aleynikov, which held that the Economic Espionage Act (EEA) does not apply to the theft of source code used in a proprietary trading system. But the court refused to acknowledge what it was doing. It insisted that its latest decision, U.S. v. Agrawal, was distinguishable from Aleynikov, even though the facts were nearly identical. The decision will have little lasting import, since Congress has already modified the EEA to make clear that it applies to trade secrets that are used internally by a company but never sold into commerce. Still, the court’s decision reflects a greater willingness to protect proprietary information than evinced in Aleynikov, which is a favorable development for financial institutions and others whose business models depends on the use of such information.