On November 10, 2017, Walter C. Little, a former partner at an international law firm, pled guilty to conspiracy to commit securities fraud.  Between February 2015 and May 2016, Little used his position at the firm to access material nonpublic information relating to a client’s anticipated delisting from the NASDAQ exchange, clients’ involvement in M&A transactions, clients’ anticipated earnings announcements, and a planned securities offering.  With this information, Little made securities trades and shared that information with Andrew M. Berke, who also allegedly traded on it.  Together, Little and Berke made approximately $1 million in illegal profits.  Little pled guilty to one count of conspiracy to commit securities fraud and he will be sentenced on February 22, 2018.  The maximum sentence is 20 years in prison and $5 million, or twice the gross gain or loss from the offense.  U.S. v. Little et al., 17-mj-03408 (S.D.N.Y.)

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