Galleon's Goffer Gives Up $1M In SEC's Insider Trading Suit

Law360, New York (December 8, 2011, 2:04 PM EST) -- A New York federal judge ordered former Galleon Group LLC trader Zvi Goffer on Thursday to disgorge more than $1 million in profits he allegedly made by trading on inside stock tips on upcoming mergers.

Goffer, who was sentenced in September to serve 10 years in prison for his role in the expansive scheme, consented to the payout in order to end the U.S. Securities and Exchange Commission's suit against him. U.S. District Judge Richard J. Sullivan decided against imposing a civil penalty because Goffer was...
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