On February 14, 2019 and February 22, 2019, respectively, A federal district court in Securities and Exchange Commission v. Walter C. Little and Andrew M. Berke, Civil Action No. 1:17-CV-03536 (S.D.N.Y., filed May 11, 2017), entered judgments against two inside traders, a former law firm partner and his neighbor.
Profits of about $1 million were made with the stolen inside info.
The SEC alleged that Walter C. Little, an attorney, viewed confidential material on his law firm’s computer network related to about 11 deals involving law firm clients. Little then purportedly traded and tipped his neighbor, Andrew M. Berke. The Complaint stated that the reading occurred from February 2015 to February 2016.