SEC Targets Trader Linked To Ex-Galleon Employee

Law360, New York (January 16, 2013, 7:05 PM EST) -- The U.S. Securities and Exchange Commission on Wednesday sued a former trader at New York broker-dealer Spectrum Trading LLC, saying he participated in an insider trading ring involving an ex-Galleon Group LLC employee and corrupt lawyers.

Eric D. Rogers, 31, traded ahead of 3Com Corp.'s 2007 proposed sale to Bain Capital using tips indirectly supplied by two Ropes & Gray LLP lawyers who had stolen the information from the law firm's deals group, the SEC alleged.

Commission spokesman John Nester said Rogers has already settled the...
To view the full article, register now.