Ex-BigLaw partner avoids long sentence for insider trading; judge notes otherwise 'exemplary life'
A former partner at Fox Rothschild has received a six-month sentence for insider trading and making false statements to the FBI.
U.S. District Judge Cynthia Rufe of Philadelphia sentenced Herbert Sudfeld after character witnesses “testified to Sudfeld’s charitable nature and love of his church and community,” the Legal Intelligencer (sub. req.) reports.
Rufe said the insider trading was a single blemish on an otherwise “exemplary life,” according to the Legal Intelligencer account. In addition to serving time in jail, he will have to serve three years of supervised release and put in 150 hours of community service.
Prosecutors said Sudfeld made $75,000 by purchasing the stock of a law firm client after overhearing conversations about a planned merger. He was convicted in February.
