Schottenfeld Trader Exits SEC's Galleon Suit

Law360, New York (June 17, 2011, 12:20 PM EDT) -- A former Schottenfeld Group LLC trader accused in New York of tipping off Galleon Group LLC traders about pending mergers settled with the U.S. Securities and Exchange Commission on Wednesday, agreeing to fork over more than $277,000 in ill-gotten gains.

According to the SEC, Gautham Shankar, who also pled guilty to companion criminal charges in 2009, gave Zvi Goffer and his brother Emanuel Goffer, both former traders at Schottenfeld and Galleon, nonpublic information about Hellman & Friedman Capital Partners VI LP's acquisition of Kronos Inc., and...
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