Thursday, 23 March 2017
Last updated 52 min ago
Feb 9 2011 | 11:40am ET
The first of the 11 people charged in the Justice Department's ongoing insider-trading investigation has pleaded not guilty.
James Fleishman, a former sales executive at expert-network firm Primary Global Research, entered his plea on Monday in Manhattan federal court. Four people have already pleaded guilty in the case, including a Primary Global employee and former SAC Capital Advisors hedge fund manager.
Fleishman was one of the first six arrested in the case in December. According to prosecutors and the Securities and Exchange Commission, Fleishman acted as conduit for confidential information, passing tips from Primary Global's consultants to its clients.
Fleishman's not guilty plea came just a day before prosecutors arrested four hedge fund employees in the case, including two former SAC managers.