Two investors have been charge with insider trading related to a 2009 purchase of stock a company International Business Machines Corp. (NYSE:IBM) acquired. IBM acquired the IT services firm SPSS Inc in 2009 for $1.2 billion. The news was reported by Reuters this afternoon.
The traders have been charged with making more than $1 million in illicit gains relating to that trade. The indictment describes a trail of instant messages between the two traders discussing the case, while also referring to other famed insider trading cases.
Prosecutors...
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