A senior associate at the law firm Wilson Sonsini Goodrich & Rosati, Matt Kluger, was just arrested for insider trading.Kluger worked on huge M&A deals at the firm, and investigators suspect that he gave out tips that reaped one trader, Garrett Bauer, $32 million in profits.
The suspicion is that Kluger told *someone* (an unknown person at this point) who told Bauer about the mergers his law firm, Wilson Sonsini, was working on. He may have also stolen information from the law firms Cravath Swaine & Moore and Skadden, Arps, Slate, Meagher & Flom, according to the Wall Street Journal.
One deal that investigators believe that Kluger gave inside information about was Sun’s purchase of Oracle, according to CNBC. He is said to have started giving out insider tips about coming deals while he was a law student at NYU, according to CNBC.
Kluger didn’t become a M&A lawyer until later in his career. The first school Kluger went to was the Kent, Connecticut-based Kent School, a private boarding school. He then went to Cornell, where he studied at the school of Hotel Administration. He graduated in 1984, which makes him around 47-years old.
Later, Kluger worked as the General Manager of a Toyota dealership in California. He graduated NYU law school in 2005.
From his info on the Wilson Sonsini Goodrich & Rosati website (it has since been taken down):
Matt Kluger is a senior associate in the firm’s Washington, D.C., office.
Matt represented many clients in complex cross-border transactions, including the first-ever hostile tender offer in Chile and a simultaneous hostile exchange offer in the U.S.
Matt’s clients have been acquirers, targets, financial advisors, and special committees, and he has worked on both negotiated and hostile transactions.
Prior to attending law school, Matt had a seven-year career in the automobile retail industry, culminating as general manager of a large-volume Toyota dealership in California. Prior to joining Wilson Sonsini Goodrich & Rosati, Matt was an associate at Cravath, Swaine & Moore and Skadden, Arps, Slate, Meagher & Flom and associate general counsel at Asbury Automotive Group, Inc., a Fortune 500 automotive retailer.
His clients were:
- Check Point Software Technologies
- Computer Horizons
- North America Inc.
- Fiat S.p.A.
- Huntsman Chemical Corporation
- Johnson & Johnson
- Kansas City Power & Light
- Landry’s Restaurants
- Life RE
- Nuance Communications
- Sun International Hotels
- Texas Pacific Group
- The AES Corporation
- The Goodson Newspaper Group
- Thomas Weisel Partners
- Vivendi SA