Watley Squawk Box Trial Kicks Off

Law360, New York (March 19, 2007, 12:00 AM EDT) -- The trial of four former A.B. Watley Inc. executives accused of trading based on non-public information passed along through internal “squawk boxes” kicked off on Monday in a Brooklyn courtroom.

Former vice chairman Robert Malin, former compliance director Linus Nwaigwem, former chief operating officer Michael Picone and former supervisor of proprietary trading Keevin H. Leonard have been accused of paying brokers at Merrill Lynch & Co., Citigroup Inc. and Lehman Brothers Holdings Inc. to allow them to listen in on confidential conversations held over the firms’...
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