Three charged with stealing inside information from M&A firm Simpson Thatcher

Three men netted $5.6 million by trading on the illegally-receiving information

Corporate data breaches typically occur within a company’s own computers, but a new case out of New York signals a new area of entry for potential thieves — the company’s outside law partners.

Prosecutors say that three men ran an insider-trading ring using information illegally taken from mergers and acquisition firm Simpson Thatcher & Bartlett LLP. According to a criminal complaint, the three men netted $5.6 million by trading on inside information that included knowledge of Tyco International’s plans to buy Brink’s Home Security Holdings and OfficeMax’s plans to merge with Office Depot.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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