Ex-Foley & Lardner Partner Enters Not-Guilty Plea in Case Alleging Insider Trading
Following insider trading charges brought in May, former Bradley Arant Boult Cummings and Foley & Lardner partner Walter "Chet" Little formally denied the allegations in court on Thursday, entering a not-guilty plea alongside a co-defendant in the criminal case.
August 18, 2017 at 05:02 PM
19 minute read
Following insider trading charges brought in May, former Bradley Arant Boult Cummings and Foley & Lardner partner Walter “Chet” Little formally denied the allegations in court on Thursday, entering a not-guilty plea alongside a co-defendant in the criminal case.
Little faces criminal charges that he profited from options and stock trades based on confidential information related to a number of Foley & Lardner's clients, including Oshkosh Corp., Whiting Petroleum Corp. and Harley-Davidson Inc., according to the complaint brought against him by the Manhattan U.S. Attorney's Office. Little also faces allegations that he passed information to a neighbor, Andrew Berke, who allegedly used it to trade.
Berke faces criminal charges as well, and the U.S. Securities and Exchange Commission filed a parallel civil complaint. The government maintains that the two men collectively took in more than $1 million in illicit profits.
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