An Oakton lawyer has been charged in what prosecutors say was a long-running insider-trading scheme that raked in $32 million in illegal profits.
Corporate lawyer Matthew H. Kluger, 50, is accused of conspiring with 43-year-old Garrett D. Bauer, a professional stock trader in New York, according to the U.S. Attorney’s Office in Newark, where the pair was charged.
A criminal complaint alleges that, since 1994, Kluger told an unnamed co-conspirator confidential information about mergers and acquisitions his law firms were working on. The conspirator passed those details on to Bauer, who would purchase shares in the companies. They would then sell the shares after the deals became public and the stock price rose, the complaint says.
Kluger is accused of providing information about deals he personally worked on and about cases he learned about by viewing documents on a firm’s internal document-viewing system.
Kluger has worked at Cravath Swaine & Moore; Skadden, Arps, Slate, Meagher & Flom; and Wilson Sonsini Goodrich & Rosati.
A spokeswoman for Wilson Sonsini, where Kluger worked until last month, told the Washington Post that the firm was shocked by the charges and is cooperating with investigators.
