Key facts
- A former M&A lawyer pleaded not guilty to insider trading charges.
- The lawyer is accused of leading an insider trading ring.
- The ring allegedly made tens of millions of dollars in illegal profits.
- The lawyer previously worked at firms including Latham & Watkins and Goodwin Procter.
Insider trading involves trading securities based on material, non-public information, which is illegal and carries severe penalties. This case highlights ongoing efforts by regulators to police financial markets and prosecute individuals involved in fraudulent activities.