Alleged Insider Trading by BigLaw M&A Lawyers: Should Be Law-School Course on How to Keep Out of Jail

If something very illegal and very lucractive can be done, count on lawyers to figure it out. This alleged caper is insider trading by lawyers in top law firms who were associated with mergers and acquisitions.

The Justice Department reports:

"Charges were unsealed today against 30 defendants in connection with a large-scale, decade-long insider trading scheme that netted tens of millions of dollars in illicit profits. The defendants, who include corporate attorneys and other financial professionals, are alleged to have stolen and used confidential information on nearly 30 merger and acquisition deals from several of the nation’s premier law firms ..."

Names of those indicted are listed. 

Although the firms are not explicitly mentioned they are reported by Bloomberg Law to include Watchell, Latham and Goodwin Procter. 

The alleged master mind is Nicolo Nourafchan. A Yale Law School graduate he had worked from 2013 to 2023 at Sidley, Latham and Goodwin Procter. 

Along with New York City lawyer Robert Yadarov he organized a team of tipsters to share non-public information about proposed deals in exchange for kickpacks. They didn't work on the deals themselves. All this was transmitted in encryped messaging. Then, of course, allegedly there were equities transactions. One such proposed deal was Amazon's interest in iRobot in 2022 but that was chucked. 

There's a joke. Law schools should create an elective: How to keep out of jail.

Earning a Good Living in 2026 Involves Mental Combat. The enemy is usually your own thinking.

Complimentary consultation. No Pressure. Solid Guidance. Contact Jane Genova janegenova374@gmail.com.


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