The SEC charged three Chinese traders with fraud for allegedly hacking "nonpublic market-moving information" from two prominent New York-based law firms. The SEC alleges that the traders used the information to purchase shares in at least three public companies before merger agreements had been publicly announced. In a parallel action, the U.S. Attorney's Office for the Southern District of New York brought criminal charges against the three traders.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
