SEC Targets Trader Linked To Ex-Galleon Employee

Law360, New York (January 16, 2013, 7:05 PM EST) -- The U.S. Securities and Exchange Commission on Wednesday sued a former trader at New York broker-dealer Spectrum Trading LLC, saying he participated in an insider trading ring involving an ex-Galleon Group LLC employee and corrupt lawyers.

Eric D. Rogers, 31, traded ahead of 3Com Corp.'s 2007 proposed sale to Bain Capital using tips indirectly supplied by two Ropes & Gray LLP lawyers who had stolen the information from the law firm's deals group, the SEC alleged.

Commission spokesman John Nester said Rogers has already settled the...
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