Case library · Lawyers in the Dock
The Lawyer Who Leaked Deals
United States v. Kluger (2013)
Charge: Conspiracy to commit securities fraud, securities fraud, money-laundering conspiracy and obstruction of justiceCourt: U.S. Court of Appeals, Third Circuit (on appeal from D.N.J.)State: New JerseyDocket: Lawyers in the Dock
The facts
A corporate lawyer moved between several top merger firms. At each one he could see deal papers before they were public. For seventeen years he passed the names of takeover targets to a middleman, who relayed them to a professional stock trader. The trader bought the shares, sold after the news broke, and returned cash to be split. The lawyer never traded himself. Prosecutors also say he destroyed his phone and messages once he learned investigators were listening.
You have the facts the court had. Guilty or not guilty? Call it in the game with your friends, then see what the court actually decided. Wrong call, you drink.
Citation: United States v. Kluger, No. 12-2701 (3d Cir. 2013)
Read more at law.justia.com. The source reveals the outcome.