Seven individuals charged by federal prosecutors in Manhattan on Wednesday with earning $62 million from illegal trades on shares in computer giant Dell have retained the services of at least three Am Law 200 firms to fight the charges. (Click here for the government’s 28-page criminal complaint in the case.)
The seven hedge fund and investment professionals-three of whom were arrested by FBI agents in Boston, Los Angeles, and New York-are accused of being part of an insider trading scheme that prosecutors liken to a “stunning portrait of organized corruption on a grand scale,” according to news reports on a press conference touting the charges held by U.S. Attorney for the Southern District of New York Preet Bharara.
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