One thing you don’t want to have to do early in your legal career? Settle with the SEC over your alleged insider trading.
But this week, former Nixon Peabody associate Melissa Mahler agreed to pay $5,800, plus interest, that she made trading on alleged insider information, and she agreed not to engage is similar misconduct in the future, The Blog of the Legal Times reported.
The “similar misconduct” language is because, as per usual settlement agreement language, Mahler did not admit or deny the allegations.
Back in September, the SEC accused Mahler of trading on information she obtained from clients through her work at Nixon Peabody. The trades were made in 2004, and Mahler left the firm when the conduct came to light in 2005.
She is now a solo practitioner, and her lawyer would not confirm to BLT whether or not she faces any disciplinary action from the bar.
We still cannot believe someone would risk an entire (really high-paying) career for so little money.
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