
Matthew Kluger worked for several big law firms and learned about pending mergers. He and a friend alerted a day trader who bought shares of the companies. After the deals went public, they split the profits.
Andrew Harrer, Bloomberg
Every dawn in the early spring of 2011, Matthew Kluger peered out his window, wondering when federal agents would knock at his door. Kluger, a mergers-and- acquisitions lawyer, says he worried that authorities were closing in on him as the source of illegal tips in a three-man insider-trading ring that had eluded detection for 17 years.
The knock came on April 6. U.S. agents handcuffed Kluger, hustled him into a Dodge Intrepid, drove to the Federal Bureau of Investigation office in Manassas, Va., and laid out the
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