Galleon's Goffer Gives Up $1M In SEC's Insider Trading Suit

Law360, New York (December 8, 2011, 2:04 PM EST) -- A New York federal judge ordered former Galleon Group LLC trader Zvi Goffer on Thursday to disgorge more than $1 million in profits he allegedly made by trading on inside stock tips on upcoming mergers.

Goffer, who was sentenced in September to serve 10 years in prison for his role in the expansive scheme, consented to the payout in order to end the U.S. Securities and Exchange Commission's suit against him. U.S. District Judge Richard J. Sullivan decided against imposing a civil penalty because Goffer was...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Cutillo et al


Case Number

1:09-cv-09208

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Richard J. Sullivan

Date Filed

November 4, 2009

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.