Tuesday, July 31, 2012

Defendant in Insider Case: Dude, I Was Just Doing My Job




The man's insider trader is another man's corporate crusader, according to the WSJ. Or at least that is what lawyers for Doug Whitman plan to argue before a federal jury.  Mr. Whitman, a former hedge-fund manager, doesn't deny that he probed public companies for nonpublic information. But his criminal-defense team plans to argue that its client was doing exactly what he was supposed to do when he persuaded employees of public companies to give him information that those companies' top brass didn't want getting out.

Mr. Whitman "was doing what every diligent, competent fund manager and analyst should do—checking up on companies' management to ...

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