M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

Tuesday, January 18, 2011

"I plead guilty because I am guilty."

Attorney Arthur Cutillo (Villanova Law, '05) pleads guilty to his role in the Galleon insider trading ring.  Background from the US Attorney's press release:

At all relevant times, CUTILLO worked at the law firm of Ropes & Gray LLP. In 2007 and 2008, CUTILLO and another Ropes & Gray attorney, BRIEN SANTARLAS, provided ZVI GOFFER with inside information they misappropriated from Ropes & Gray about several mergers and acquisitions of public companies for which the law firm was providing legal services. The inside information included information regarding the potential acquisition of 3Com Corporation ("3Com") and the potential acquisition of Axcan Pharma, Inc. ("Axcan"). CUTILLO and SANTARLAS provided the inside information concerning these companies to JASON GOLDFARB, another New York attorney, who allegedly passed the inside information to GOFFER. In exchange for providing the inside information to GOFFER, CUTILLO, SANTARLAS, and allegedly GOLDFARB, received cash payments.

Don't be like Arthur. 



Insider Trading | Permalink

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