An insider trading complaint has been filed against Jeffery J. Temple, a former information systems and security manager for Wilmington firm Richards Layton & Finger, alleging that he accessed confidential information to trade ahead of mergers and acquisitions.
The complaint, The Securities & Exchange Commission v. Jeffery J. Temple and Benedict M. Pastro, was filed on Dec. 7, in U.S. District Court for the District of Delaware. In what the SEC called “an egregious betrayal of trust,” Temple allegedly accessed “material nonpublic information” from the firm about its clients’ prospective deals and used the information to make illegal trades. He also funneled information to Pastro, his brother-in-law, so he could trade illegally.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]