There's not too much new in the indictment for insider trading of the former partner of Philly firm Fox Rothchild.  The partner didn't work on the deal, but he overheard a conversation between one who was working on the deal and the legal assistant they shared.  And then he traded so unbelievably transparently you can barely believe that he was a lawyer.  He bought shares in his wife's IRA account, and then he bought shares in his own IRA account.  The next day, the merger was announced, the shares went up 80ish percent, and he instantly sold, making $75 grand.  Which doesn't do his wife any favors, in the end.

The SEC’s complaint filed in federal court in Philadelphia names Sudfeld’s wife, Mary Jo Sudfeld, as a relief defendant for the purpose of recovering insider trading profits in her brokerage account through trades conducted by Sudfeld.  The complaint charges Sudfeld with violating antifraud provisions of the federal securities laws and an SEC antifraud rule.  The SEC seeks a permanent injunction and financial penalties against Sudfeld and return of allegedly ill-gotten gains and prejudgment interest from Sudfeld and Mary Jo Sudfeld.

That is insider trading of the most "please, catch me!" variety.  But maybe this guy hasn't head of the duties of quasi-insiders, and thought he was an accidental tippee.

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