Tuesday, 21 October 2014
Last updated 52 min ago
Mar 1 2011 | 5:26am ET
One of expert-network firm Primary Global Research’s one-time top consultants is in talks with prosecutors about a plea agreement.
Mark Longoria was one of the first six people arrested and charged in the case. If he pleads guilty, he’ll be the fifth person—of the dozen charged in the case—to do so.
Longoria was a supply chain manager at Advanced Micro Devices, moonlighting as a consultant for Primary Global. He was one of that firm’s most highly sought-after experts. Among the hedge funds he worked with were Spherix Capital, whose founders have pleaded guilty in the Galleon Group insider-trading case, and Barai Capital Management, whose founder has been charged with insider-trading and whose analyst, Noah Freeman, has pleaded guilty.
“We are in plea negotiations,” Longoria’s lawyer, Jonathan Marks, said.
A plea by Longoria would not be much of a surprise: At his first court appearance after his arrest in December, he told the presiding judge, “I’m not trying to fight this.”
Prosecutors have until Monday to indict Longoria, get an extension or offer his guilty plea. They also face that deadline with Walter Shimoon, another former Primary Global consultant arrested in the case. Shimoon’s lawyer said the situation was “fluid.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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