Feds' New Insider Trading Target: Lawyers

Forbes reports:

Lawyers are paid to keep secrets. But like anyone else, the more valuable the information they're sitting on, the more likely they are to welsh on their promise of confidentiality and sell privileged information to the highest bidder.

As a case in point, two of the 14 defendants arrested in the government's latest Galleon Group-related insider trading bust are New York lawyers who allegedly accepted cash to funnel information on three 2007 corporate acquisitions to a one-time employee of the hedge fund.