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...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Conradt et al


Case Number

1:12-cv-08676

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Jed S. Rakoff

Date Filed

November 29, 2012

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.