Large Law Firms

Associate Accused of Insider Trading at 3 Big Firms Also Worked for a Fourth--and Sued for Gay Bias


The associate accused of insider trading based on information obtained from three BigLaw firms may also have made some additional money after working for a fourth.

Matthew Kluger, 50, is accused of working with two other conspirators to make $32 million in insider trading profits from information gleaned while working at three law firms: Wilson Sonsini Goodrich & Rosati; Cravath Swaine & Moore; and Skadden, Arps, Slate, Meagher & Flom.

But Kluger also worked for a fourth firm—Fried, Frank, Harris, Shriver & Jacobson—for about a year. After he was fired in 2002, he sued the firm for gay bias, according to the Wall Street Journal Law Blog and the Wall Street Journal (sub. req). Prosecutors are investigating Kluger’s work at Fried Frank, an anonymous source told the Wall Street Journal.

Kluger’s bias case settled in 2004. In his complaint (PDF posted by the Wall Street Journal), Kluger alleged he was treated worse than his heterosexual peers, receiving unequal pay, benefits and work assignments. He was also admonished for “availability issues” while taking paternity leave after the birth of his adoptive twin sons, the suit claims. He sought $10 million in damages.

Above the Law noted the story and supplied more details about Kluger’s personal life. He adopted three children in all, and worked as the general manager of a Toyota dealership before he went to New York University law school. His undergrad major at Cornell was hotel administration.

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