NJ Men Cop To Insider Trading With Celgene, Stryker Stock

Law360, New York (November 13, 2013, 7:32 PM EST) -- Two New Jersey men pled guilty in federal court on Wednesday to their primary roles in an elaborate insider trading network, admitted they gamed the stock market using information culled from sources inside companies including Sanofi-Aventis, Celgene Corp. and Stryker Corp.

Lawrence Grum of Livingston, N.J., and Michael Castelli of Morris Plains, N.J., both pled guilty before U.S. District Judge Katherine S. Hayden to charges of conspiracy to commit securities fraud and securities fraud, with both copping to two conspiracy counts plus four fraud counts for...
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