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Sentenced to Prison for Insider Trading, Lawyer Now is Disbarred

January 3, 2013

[ by Howard Haykin ]

 

When this well-traveled attorney pleaded guilty in New Jersey federal court last December to conspiracy, fraud and other charges - all related to his participation in a $37 million insider trading scheme - lawyer Matthew Kluger was, for all intensive purposes, automatically disbarred at that moment.   Six months later, in June 2012, he received a 12-year prison sentence for his conviction. 

Notwithstanding the court events that took place prior to Kluger's latest hearing, the ruling on Thursday in a New York appeals court officially removed Kluger's name from the roll of New York attorneys. 


Kluger was charged by federal authorities with using merger secrets gleaned from his position as a corporate attorney to net more than $37 million for himself and 2 co-conspirators between 1994 and 2011.  Kluger had worked at several law firms, including:  (i) Cravath Swaine & Moore;  (ii) Skadden, Arps, Slate, Meagher & Flom; and (iii) Wilson Sonsini Goodrich & Rosati.


The case is Matter of Kluger, Appellate Division, First Department, No. 3721.  Kluger was not represented by an attorney at today's hearing.
 

For further details, go to:   [ Reuters, 1/3/13 ].