Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Sunday, May 13, 2007

Perspective on The Past Week's Stories

Two Themes This Week:

(1) Insider Trading and Married Couples -- First, the SEC obtained a TRO against a Hong Kong husband and wife because of their suspiciously large purchases of Dow Jones stock in the weeks before the public announcement of the Murdoch bid.  The wife's father is a business associate of a Dow Jones director.  (There have been reports as well about large trades in Dow Jones options, but no one has been yet named. ) Second, another husband and wife team (both attorneys) pled guilty to insider trading charges as part of a federal investigation that last March named thirteen individuals as part of a trading ring.  The wife was a compliance officer at Morgan Stanley.  Third, another husband and wife team was charged with insider trading -- the wife was an analyst at Morgan Stanley and her husband was a hedge-fund analyst.

(2) Attorneys in Trouble -- In addition to the two attorneys who pled guilty to insider trading charges (see above), the former GC at Comverse Technologies was sentenced to prison for his role in that company's backdating of stock options.

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