On November 18, Daryl Payton, a former stock broker at a securities trading firm (identified in media reports as Euro Pacific Capital Inc.), pleaded guilty to insider trading charges for his role in a scheme to misappropriate inside information regarding IBM’s 2009 acquisition of a software company, SPSS, Inc. Manhattan U.S. Attorney Preet Bharara said that Payton received the information from a colleague, who in turn had gotten it from his roommate. The ultimate source of the tip was a corporate lawyer who was part of the legal team representing IBM in the transaction. Media reports identify the lawyer as an associate at Cravath, Swain & Moore. Payton pleaded guilty before U.S. District Judge Andrew L. Carter, Jr. of the Southern District of New York. United States v. Payton, 12 Cr. 887 (S.D.N.Y.) DOJ Press Release.