Stuart P. Slotnick, a managing shareholder in the Litigation Section of Buchanan Ingersoll & Rooney's New York office, was quoted in an article published on November 30, 2010 on Bloomberg.com. The article titled, "Insider-Trading Case Middleman Mined Taiwan for Tips, U.S. Says," discussed the Nov. 24 arrest of Don Chu, an employee at Primary Global Research LLC (PGR), on charges of insider trading. PGR connects investors with industry experts who provide insight into a specific market.
According to the article, "Chu, a naturalized U.S. citizen since 1987, helped employees of U.S. companies Broadcom Corp. and Sierra Wireless Inc. pass inside financial data in Taiwan to PGR clients and also helped Atheros Communications Inc. workers leak confidential information, according to an FBI complaint. He worked at PGR for seven years and was its 'bridge to Asia experts and data sources,' according to the company. PGR fired him after his arrest."
Slotnick, who is not involved with the investigation, weighed in on how, "If I was a company insider that did business with Chu, I'd expect to be contacted by the FBI."
The article went on to note, "Chu is charged with one count of conspiracy to commit securities fraud and one count of conspiracy to commit wire fraud. He faces as long as 25 years in prison if convicted of wire-fraud conspiracy. He was released on a $1 million person recognizance bond and ordered to surrender his passport."