Father-Son Duo Cop To Insider Trading On Apache Deal

Law360, New York (August 5, 2011, 4:52 PM EDT) -- A father and son pled guilty Friday in New York federal court to an insider trading scheme related to Apache Corp.'s $2.7 billion acquisition of Mariner Energy Inc., where the father was a member of the board of directors.

H. Clayton Peterson, 65, who was on the board at Houston-based Mariner Energy in April 2010 when he learned that Apache would be buying the oil and gas exploration company, passed to his son information about the impending acquisition that he had learned as a board member....
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