Insider-Trading Trial Date Set for Ex-Fox Rothschild Partner
A trial has been scheduled for the former Fox Rothschild lawyer hit with insider-trading charges stemming from the 2012 Harleysville-Nationwide insurance merger.
October 05, 2015 at 02:00 AM
4 minute read
A trial has been scheduled for the former Fox Rothschild lawyer hit with insider-trading charges stemming from the 2012 Harleysville-Nationwide insurance merger.
Bucks County lawyer Herbert Sudfeld Jr., who pleaded not guilty to the charges in July, is set to stand trial in federal court Feb. 2. Sudfeld was indicted July 16 on charges of securities fraud and making false statements to the FBI. He worked at Fox Rothschild during the firm's handling of the merger and allegedly bought and sold Harleysville stock knowing that the merger was imminent, making profits of $75,500, according to the grand jury indictment.
Sudfeld's attorney, Robert E. Welsh Jr. of Welsh & Recker, said he was glad the trial date has been set, and added the parallel U.S. Securities and Exchange Commission suit against Sudfeld has been stayed pending the resolution of the criminal case.
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