Breached Law Firm Info Used In $5.6 Million Insider Trading Scheme

March 20, 2014

A Morgan Stanley broker and a clerk at Simpson Thacher & Bartlett were arrested this week and charged with plotting an elaborate insider-trading scheme that lasted nearly four years and reaped approximately $5.6 million in profits. The two exchanged information by way of an unnamed third-party go-between who cooperated with federal prosecutors and the SEC.

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