John Kinnucan, the expert-networker who refused to cooperate in a U.S. probe of insider trading before admitting to passing tips to hedge-fund clients, was sentenced to four years and three months in prison.
Scott Allen, a former Mercer LLC investment adviser, pleaded guilty to charges that he supplied nonpublic information to a friend in a $2.6 million insider- trading scheme involving drug-company acquisitions.
Royal Bank of Scotland Group Plc, Deutsche Bank AG and Wells Fargo & Co. must face claims from a pension fund over $1.3 billion in mortgage bonds and potentially billions more, a federal appeals court ruled.
Robert Moffat, a former International Business Machines Corp. senior vice president, was sentenced to six months in prison for leaking information to Danielle Chiesi, a consultant for New Castle Funds LLC.
John Kinnucan, the Broadband Research LLC founder who challenged authorities to arrest him for more than 18 months, pleaded not guilty to insider-trading charges and remains in custody because he’s unable to make bail.