Insider Trading Hits BigLaw Again

Insider Trading Hits BigLaw AgainInsider Trading Hits BigLaw AgainTodd Leslie Treadway, a former associate of Dewey LeBoeuf has been charged with insider trading. Treadway, who worked in Deweys Executive Compensation, Employee Benefits Employment group, allegedly walked away with $27k after investing in two of Deweys clients in 2007 and 2008. According to The National Law JournalThe SEC said Treadway in June 2007 bought shares in Dewey client Accredited Home Lenders after reviewing a draft merger agreement for its acquisition by Lone Star Funds. Treadway bought the shares via his office computer three days before the absprache was announced publicly, the complaint said. Later, in May 2008, Treadway bought shares in Dewey client CNET before the announcement that CBS Corp. planned to buy it for $1.8 billion, the SEC said. After reviewing various documents in the deal, the agency alleged, Treadway bought CNET stock using four different online brokerage accounts eight days before the d eal was announced.After learning about the alleged insider trading in 2008, Dewey dismissed Treadway. According to the firm, Dewey LeBoeuf has policies concerning confidentiality and prohibiting insider trading, and the firm has cooperated fully with the SEC since the outset of its investigation.BigLaw hasnt been immune from insider trading investigations. Other recent investigations include ones focusing on former Ropes Gray associates Arthur Cutillo and Brien Santarlas and former Nixon Peabody associate Melissa Mahler.The National Law Journal Source WSJ Blog Source Treadway ComplaintFOLLOW VAULT LAW ON TWITTER VaultLaw