NBCNews reports that Two former stock brokers at a
Connecticut financial services company were charged with criminal insider
trading on Thursday over a 2009 acquisition by computer giant IBM Corp. U.S. authorities said Thomas Conradt, David
Weishaus and three unnamed colleagues made more than $1 million in illicit
gains by trading in shares of SPSS Inc before IBM agreed on July 28, 2009, to
buy the Chicago-based software company for $1.2 billion.
The criminal indictment details a trail of instant messages
involving the men about their activity, some of which refer to other
insider-trading cases involving homemaking doyenne Martha Stewart and the
billionaire Mark Cuban.
Prosecutors said the scheme got its start with a tip from an
associate at the New York law firm that represented IBM in the transaction.
Prosecutors did not name the law firm, but Cravath Swaine & Moore has said
it was IBM's representative….
Wait, wait...there's more at http://www.nbcnews.com/business/2-charged-insider-trading-over-2009-ibm-deal-1C7337954
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