Regulators May Get Cold Shoulder After Galleon

Law360, New York (June 10, 2010, 7:24 PM EDT) -- Defense attorneys are watching the massive Galleon Group insider trading case, saying it highlights a growing collaboration between criminal prosecutors and civil agencies that could lead them to reconsider whether clients should cooperate with securities regulators.

“Before the rise of so many parallel cases ... people tended to cooperate more, come in and testify more” for regulators, said Thomas O. Gorman, chair of the securities litigation group at Porter Wright Morris & Arthur LLP and co-chair of the American Bar Association's White Collar Crime securities committee....
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