May 10, 2007
No Securities Fraud Convictions in Squawk Box Case
A jury deadlocked on the securities fraud charges in the much-publicized "squawk box" case, where prosecutors charged that three brokers allowed day traders at A.B. Watley to eavedrop on block orders by institutional clients so that the day traders could jump ahead of them. One broker was convicted on charges of witness tampering and making false statements. See WSJ, Jury Reaches Partial Verdict In 'Squawk Box' Case.
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