Legal Ethics

Fired Dewey Associate Is Accused of Using Office Computer for Insider Trading

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A fired Dewey & LeBoeuf associate has been charged with insider trading in a civil complaint by the Securities and Exchange Commission.

Todd Leslie Treadway is accused of making $27,000 in profits by trading in two stocks based on information he acquired while providing advice on how mergers and acquisitions would affect employee benefits and executive compensation, the National Law Journal reports.

Treadway is accused of making the stock purchases on his office computer, using his own brokerage accounts and one held by his fiancée.

The NLJ story describes Treadway as 41 years old and a graduate of Baylor University’s law school. He worked in Dewey’s New York office until he was fired in 2008 as a result of the alleged insider trading, the story says.

He is accused of trading in shares of two Dewey clients: Accredited Home Lenders and CNET Networks Inc.

The Wall Street Journal Law Blog noted the NLJ story and posted the SEC complaint (PDF).

Treadway is one of several associates accused recently of insider trading. Others include two associates who worked at Ropes & Gray in New York and an associate who worked at Nixon Peabody in Rochester, N.Y.

Treadway’s lawyer did not respond to either publication’s request for comment.

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