On January 15, Steven Metro, the managing clerk of the New York office of Simpson Thacher & Bartlett LLP, was indicted in the District of New Jersey for his alleged participation in a multiyear insider trading scheme that netted more than $5.6 million in illicit profits.  According to the government, Metro repeatedly provided material, nonpublic information to his friend and former law school classmate Frank Tamayo regarding corporate transactions in which Simpson Thacher represented a party or financial advisor to the transaction.  Metro allegedly stole the inside information by searching the firm’s computer system using search terms, client names, and client-matter numbers.  Tamayo then provided the inside information to Vladimir Eydelman, a stock broker, who purchased securities for himself, family members, friends, and/or clients, including Tamayo.  Tamayo then paid Metro a share of the profits.  United States v. Metro, 15 Cr. 28 (D. N.J.). DOJ Press Release.

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