Insider Trading Case Over IBM Deal Is Weak, Says Broker

Law360, New York (January 30, 2013, 6:54 PM EST) -- A former broker whom the U.S. Securities and Exchange Commission alleges used confidential information ahead of a 2009 IBM Corp. acquisition will push to toss the complaint because the insider trading claims are too weak, his lawyer said Wednesday.

An SEC case against David J. Weishaus, a trained lawyer who worked as a broker at Westport, Conn.-based Euro Pacific Capital Inc., does not properly allege that Weishaus knew tips he received came from a source with a fiduciary obligation to the company, lawyer Michael J. Grudberg...
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