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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.