'Merry' lawyer sparks insider trading scenario

By Neasa MacErlean

20 February 2014 at 08:13 BST

An alleged insider trading episode, set to be investigated by the Brooklyn US attorney's office, seems to have been triggered by the comments of a Hunton & Williams lawyer over lunch.

Comments from a Hunton & Williams lawyer over lunch trigger an alleged insider trading investigation. rnl

Robert Schulman, a patent attorney at the Washington DC firm Hunton & Williams, was alleged  to have drunk some wine at lunch and then said to his dining companion 'It would be nice to be King for a day'. The friend, Tibor Klein, an investment adviser, then bought securities in King Pharmaceuticals which was the subject of private acquisition talks with Pfizer. The Hunton & Williams firm was acting for King in the takeover talks. Source: Financial Times


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