Details Of The Latest Insider Trading Charges

Here are the details on the criminal charges filed by US prosecutors’ alleged involvement in insider trading.

The latest round of charges revolve around a former Galleon Group employee.

At the centre of the matter is Zvi Goffer. The feds alleged that Goffer ran an insider-trading network, first at Galleon, then at his own firm, Incremental Capital. The network would obtain non-public information about companies’ planned merger and acquisitions.

Borrowing a page from The Wire, Mr. Goffer allegedly handed out “burners”–disposable prepaid cell phones–to his co-conspirators.

The complaint mentions several deals:

  • the 2007 acquisition of Avaya Inc by Silver Lake and TPG Capital
  • the 2007 acquisition of 3Com by Bain Capital Partners LLC
  • the acquisition of Kronos Inc by Hellman & Friedman
  • the acquisition of Axcan Pharma, Inc by TPG
  • and Blackstone’s acquisition of Hilton Hotels Corp.

Here is the full complaint (via the WSJ)


New Insider Trading Complaint

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