20 February 2014

'Merry' lawyer sparks insider trading scenario

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.

By Neasa MacErlean

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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