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

Related

Sections

Case Information

Case Title

USA v. Devlin


Case Number

1:08-cr-01307

Court

New York Southern

Nature of Suit

Date Filed

December 29, 2008

Law Firms

Companies

Government Agencies

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.