US associate faces charges for using law firm data for insider trading
A former M&A lawyer has been charged by US prosecutors for an alleged insider trading scheme which involved obtaining information from three leading corporate law firms, writes The Am Law Daily. Matthew Kluger, a former associate at Wilson Sonsini Goodrich & Rosati, Cravath Swaine & Moore and Skadden Arps Slate Meagher & Flom, has been charged by federal prosecutors in connection with an alleged scheme to trade on inside information. The scheme is alleged to have netted Kluger and a fellow defendant $32m (£19.7m) over more than a decade.
April 07, 2011 at 05:28 AM
4 minute read
A former M&A lawyer has been charged by US prosecutors for an alleged insider trading scheme which involved obtaining information from three leading corporate law firms, writes The Am Law Daily.
Matthew Kluger, a former associate at Wilson Sonsini Goodrich & Rosati, Cravath Swaine & Moore and Skadden Arps Slate Meagher & Flom, has been charged by federal prosecutors in connection with an alleged scheme to trade on inside information. The scheme is alleged to have netted Kluger and a fellow defendant $32m (£19.7m) over more than a decade.
According to the complaint, filed on Tuesday (5 April), Kluger and professional stock trader Garrett Bauer made trades based on information stolen from Wilson Sonsini.
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