Hunton Atty's Drunk Remark Not Insider Trading, Court Hears

Law360, New York (December 02, 2013, 7:02 PM ET) -- One of two men accused by the U.S. Securities and Exchange Commission of trading on inside information acquired from Hunton & Williams LLP drug patent attorney Robert Schulman suggested Monday that he cannot be held liable because Schulman was allegedly drunk at the time of the disclosure.

Michael Shechtman’s counsel at Sallah Astarita & Cox LLC unveiled the unusual defense in a Florida federal court filing. The SEC’s Sept. 20 complaint alleges a wine-drinking Schulman revealed information about a pharmaceutical client’s proposed merger to his investment...
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Case Title

Securities and Exchange Commission v. Klein et al


Case Number

9:13-cv-80954

Court

Florida Southern

Nature of Suit

Securities/Commodities

Judge

Donald M. Middlebrooks

Date Filed

September 20, 2013

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