Lehman Insider Tipster Turned Cooperator Dodges Prison

Law360, New York (March 23, 2012, 7:27 PM EDT) -- Former Lehman Brothers Holdings Inc. employee Matthew C. Devlin, who turned government cooperator and wore a wire after being caught passing confidential stock tips to day traders, was sentenced to three years' probation Friday.

Devlin, 38, received a relatively lenient sentence — federal sentencing guidelines called for him to serve nearly four years in prison — because of his “substantial” cooperation with prosecutors after he was caught sharing tips he gleaned from his wife, a financial PR executive, U.S. District Judge William H. Pauley said....
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