Ex-Foley & Lardner Partner Charged With Insider Trading After Move to Bradley Arant
Walter "Chet" Little, who left Foley & Lardner last summer to join the Tampa office of Bradley Arant Boult Cummings, has been hit with criminal insider trading charges by federal prosecutors in New York. The U.S. Securities and Exchange Commission has also filed a parallel civil case against Little and a co-defendant.
May 11, 2017 at 05:33 PM
5 minute read
Walter “Chet” Little, a real estate and banking partner at Bradley Arant Boult Cummings who joined the firm's Tampa office last summer, has been hit with criminal insider trading charges by federal prosecutors in New York.
Little, 43, and his alleged business associate Andrew Berke, 49, are accused of using nonpublic information to make $1 million in illicit profits through options and stock trading, according to a statement and 26-page complaint released late Thursday by the U.S. attorney's office in Manhattan. The U.S. Securities and Exchange Commission has also filed a parallel civil case against both defendants.
The government's case against Little, who did not respond to a request for comment on the charges, highlights the potential perils of a robust market for lateral law firm partner hiring. The accusations stem from Little's time at Foley & Lardner, which he left in July 2016 to join Bradley Arant. His new firm touted Little's real estate and finance credentials in a press release at the time.
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