Defendant In BigLaw Insider Trading Case Mulls Settlement

Law360, New York (November 25, 2013, 5:16 PM EST) -- The U.S. Securities and Exchange Commission has begun settlement talks with one of two men accused of trading on inside information supplied by Hunton & Williams LLP drug patent attorney Robert Schulman, who was allegedly intoxicated at the time of the tip, according to a Friday filing in Florida district court.

Former Ameriprise Financial Inc. employee Michael Shechtman has "begun engaging in discussion concerning a potential settlement,” his attorney said Friday. The Sept. 20 complaint alleged that Schulman, while “intoxicated” on wine, told investment adviser Tibor Klein...
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