Former Paul Hastings tax associate Eric A. Holzer yesterday was spared a prison term for trading on inside information on two corporate transactions in 2005.

Southern District Judge Victor A. Marrero ordered Mr. Holzer to spend nine months in a half-way house, on weekends if he chooses, although the guidelines range for his crimes, as well as the U.S. Department of Probation, called for a minimum of one year behind bars.