The pair exchanged information on some of Simpson Thacher’s biggest clients, including Tyco and Sirius X, and the law clerk’s transgressions reaped him a mere $168,000.
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As part of a recent crackdown on trusted corporate-deal players who leak market-moving information, the FBI last week arrested a Simpson Thacher & Bartlett law clerk and a Morgan Stanley broker on insider trading charges. So reports the New York Times’ Dealbook.
The pair exchanged information on some of Simpson Thacher’s biggest clients, including Tyco and Sirius X, and the law clerk’s transgressions reaped him a mere $168,000.