A New York City tech support professional has been sentenced to five months in prison after trading on confidential information about an impending Merck & Co. acquisition. The information, covertly obtained from a Covington & Burling LLP associate, led to charges of insider trading.
The merits of his sentence reflected his early confession, as acknowledged by the presiding judge at the Manhattan federal court. This case represents another significant development in the ongoing government efforts to curtail illicit insider trading practices within the larger corporate landscape.
Further details on this case can be found on Law360.