Law Clerk Charged with Insider Trading

Managing clerk at Simpson Thacher is accused of stealing confidential information on M&As, then passing it to a broker who traded for unfair profits.

A law firm clerk at Simpson Thacher & Bartlett LLP and a stockbroker were charged in what U.S. authorities said was an insider-trading scheme that netted more than $5.6 million in illicit profit.

Steven Metro, 40, the managing clerk at Simpson Thacher in New York, was accused of stealing confidential information on mergers, acquisitions, and tender offers and tipping a middleman who passed it to Vladimir Eydelman, 42. Eydelman, a broker, worked at Oppenheimer & Co. and later Morgan Stanley, federal authorities said. The middleman became a cooperating witness.

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