Illicit Tip Taker In KPMG Case Admits Wrongdoing

Law360, Los Angeles (April 10, 2013, 9:55 PM EDT) -- The man who received nonpublic information from a former top partner of KPMG LLP’s Los Angeles practice admitted Wednesday to using the illicit information to make substantial profits from stock trades involving a number of companies, including Los Angeles-based Herbalife Ltd. and Manhattan Beach, Calif.-based Skechers USA Inc.

Bryan Shaw, a partner in a family owned jewelry store, came clean in a statement released through his attorney, Nathan Hochman of Bingham McCutchen LLP, apologizing for his “incredibly stupid actions.”

“There is no excuse for my wrongful...
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