Federal authorities Thursday announced the indictment of 13 people on insider trading charges, including a former Morgan Stanley compliance lawyer and her husband, also an attorney.
The Southern District of New York U.S. Attorney’s Office claims the defendants participated in two overlapping insider trading rings. The larger of the two was allegedly fed by Mitchel Guttenberg, an institutional client manager in the equity research group at UBS Securities, who tipped off several Wall Street traders over the past six years about upcoming recommendations by UBS analysts.
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