Ex-Fox Rothschild Partner Pleads Not Guilty to Insider Trading
A former Fox Rothschild lawyer who was with the firm during its handling of the 2012 Harleysville-Nationwide insurance merger pleaded not guilty in federal court to insider-trading charges.
July 20, 2015 at 08:00 PM
4 minute read
A former Fox Rothschild lawyer who was with the firm during its handling of the 2012 Harleysville-Nationwide insurance merger pleaded not guilty in federal court to insider-trading charges.
Bucks County lawyer Herbert Sudfeld Jr. delivered his plea before U.S. Magistrate Judge Jacob P. Hart of the Eastern District of Pennsylvania on Monday afternoon after being indicted July 16 on charges of securities fraud and making false statements to the FBI. Sudfeld allegedly bought and sold Harleysville stock knowing that the merger was imminent and made profits of $75,500, according to the grand jury indictment.
Sudfeld was allowed to go free on a $100,000 bond, but Hart restricted his travel to the Eastern District of Pennsylvania, New Jersey, and southern New York, where he has family. Hart said further proceedings in the case will be handled by U.S. District Judge Cynthia M. Rufe.
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