Brokers Say SEC Lacked Evidence In IBM Insider Trading Case

Law360, New York (June 14, 2016, 8:40 PM EDT) -- Two brokers that a jury found liable for insider trading ahead of IBM's $1.2 billion acquisition of SPSS want a New York federal court to reconsider their arguments or grant them a new trial, saying Monday that the U.S. Securities and Exchange Commission didn't present enough evidence in their case.

In their motion, former Euro Pacific Capital Inc. brokers Benjamin Durant and Daryl M. Payton said the SEC failed to present sufficient evidence at trial showing that Trent Martin tipped off Thomas Conradt, his roommate and...
To view the full article, register now.