3rd Circuit upholds longest insider-trading sentence

Former Big Law Partner Matthew Kluger will serve 12 years in prison

Ex-Big Law Partner Matthew Kluger just got some bad news.

In June 2012, Kluger—an ex-corporate lawyer at Cravath, Skadden, Fried Frank and Wilson Sonsini—was sentenced to a record-breaking 12 years in jail for a $37 million insider-trading scheme that lasted 17 years. Kluger, who is 52, had pleaded guilty in 2011 to gathering secrets about pending mergers and acquisitions concerning big companies such as Oracle Corp., Sun Microsystems Inc., 3Com Corp. and Acxiom Corp.

Ashley Post

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