PI Lawyer Settles Charges He Traded on Deal Info Gleaned from Unwitting BigLaw Daughter
Posted Jun 08, 2011 12:04 pm CDT
A San Diego-area personal injury lawyer has settled charges that he traded on deal information he misappropriated from his unwitting daughter, an associate at a large law firm.
Dean Goetz allegedly learned about the pending $1.36 billion acquisition of Advanced Medical Optics while his daughter was working on the transaction at his home over the holidays in December 2008, the SEC says in a press release and its complaint (PDF). Goetz settled the charges without admitting or denying the accusations.
Goetz earned $11,418 on the transaction, the SEC alleges, and will repay $23,761, an amount equaling double the profits and interest.