Lawyer admits to $37 million insider-trading scheme

Matthew Kluger worked for some of the nation’s top law firms

Over a period of 17 years, an attorney has been duping a handful of the country’s top law firms.

Matthew Kluger pleaded guilty yesterday to stealing secrets about pending corporate mergers and acquisitions from his employers—which over the years have included major law firms such as Cravath Swaine & Moore; Skadden, Arps, Slate, Meagher & Flom; Fried, Frank, Harris, Shriver & Jacobson; and Wilson Sonsini Goodrich & Rosati—and using the stolen information to conduct an elaborate insider-trading scheme. The scam spanned nearly two decades and garnered more than $37 million in profits.

Ashley Post

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