Producer Pleads Guilty To $2.6M Insider Trading Scheme

Law360, New York (November 28, 2011, 5:42 PM EST) -- Independent movie producer John Bennett on Monday pled guilty in New York federal court to insider trading charges that he participated in a $2.6 million scheme to trade ahead of drug company takeovers, according to his attorney.

Bennett changed his plea to guilty after originally pleading not guilty to three counts of securities fraud Oct. 31. His attorney, Henry E. Mazurek of Clayman & Rosenberg LLP, declined to comment beyond confirming the plea change.

Federal prosecutors in New York charged Bennett and his friend Scott Allen,...
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