Hackers in a ring that stole confidential information from Edwards Lifesciences (NYSE:EW), Align Technology (NSDQ:ALGN) and others could reportedly dodge insider trading charges because they hacked PR websites rather than the companies they traded in. Although it appears to be a classic insider trading case – the 2 Ukrainian defendants allegedly used confidential information to reap $30 million in trading profits – because the hackers are charged […]
Insider Trading
Judge: Ex-AMO CEO Mazzo can keep lawyers
A federal judge this week denied federal prosecutors’ request to disqualify the law firm representing former Advanced Medical Optics CEO James Mazzo, despite misrepresentations by a former lawyer for Skadden Arps Slate Meagher & Flom. Mazzo was indicted in September 2014 on insider trading charges stemming from Abbott‘s (NYSE:ABT) $2.8 billion acquisition of AMO in 2009. Prosecutors accused Mazzo of tipping […]
Investment banker to cooperate in medtech insider trading case
(Reuters) — A managing director at a boutique investment bank has agreed to cooperate with prosecutors at an insider trading case involving a former Perella Weinberg Partners employee accused of passing stock tips to his father, according to court records. Richard Cunniffe, who worked at Chatsworth Securities LLC in Greenwich, Connecticut, secretly pleaded guilty May […]