Ex-Galleon Trader Offers No Defense In Merger Tips Trial

Law360, New York (May 31, 2011, 7:45 PM EDT) -- A former Galleon Group LLC trader offered no evidence in his defense after prosecutors rested on Tuesday in a New York trial accusing him and two co-defendants of profiting from merger tips gleaned by former Ropes & Gray LLP lawyers.

The key defendant, 35-year-old Zvi Goffer, sat quietly at a defense table in New York federal court as lawyers for other traders Emanuel Goffer — Zvi Goffer’s brother — and Michael Kimelman sought to distance themselves from the alleged insider trading ring. Defendants do not carry...
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