Thursday, March 10, 2011

More Lawyer Insider Trading Alleged: Another Associate Accused

The Wall Street Journal notes: "The ongoing crackdown on insider-trading is again lapping up on the shores of the AmLaw 100." The latest accusation was brought by the SEC against a former associate with Dewey LeBoeuf charged with trading based on insider information. In this case, based on access to details of a draft merger agreement, the associate purchased shares.

The trades were made in 2007 and netted approximately $27,000. The associate in question was terminated in 2008.

The firm told the National Law Journal that it has policies against this sort of thing and that it has: "...cooperated fully with the SEC since the outset of its investigation."

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