{"id":6058,"date":"2016-10-25T17:19:49","date_gmt":"2016-10-25T22:19:49","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1172"},"modified":"2016-10-25T17:19:49","modified_gmt":"2016-10-25T22:19:49","slug":"ex-oppenheimer-broker-pleads-guilty-insider-trading-case","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ex-oppenheimer-broker-pleads-guilty-insider-trading-case\/","title":{"rendered":"Ex-Oppenheimer Broker Pleads Guilty in Insider Trading Case"},"content":{"rendered":"<div class=\"WordSection1\">\n<div class=\"\">David Hobson, an <a href=\"https:\/\/www.investorlawyers.com\/oppenheimer-co-background-information\">ex-Oppenheimer &amp; Co (OPY)<\/a> investment adviser, has pleaded guilty to the criminal charges of securities fraud and conspiracy to commit securities fraud. The 47-year-old Rhode Island broker admitted that he engaged in insider trading using information given to him by investment client Michael Maciocio in order to make illegal profits. Maciocio has\u00a0already\u00a0pleaded guilty to the charges in the insider trading case against him.<\/div>\n<div class=\"\">\n<div class=\"\">\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\"><span class=\"\">According to\u00a0Preet Bharara, the\u00a0United States Attorney for the Southern District of New York, between 5\/2008 to 4\/2014 Hobson and Maciocio sought\u00a0to trade\u00a0on insider information regarding acquisitions that a particular pharmaceutical company was considering.\u00a0 Although Bharara\u2019s release doesn\u2019t name the company, <em>Law360<\/em> identified the company as Pfizer Inc. Bharara said that Maciocio, who was master planner in Pfizer&#8217;s active pharmaceutical ingredient supply chain group, would find out about the upcoming acquisitions and tip Hobson.<\/span><\/div>\n<div class=\"\"><\/div>\n<div class=\"\"><span class=\"\">Bharara\u2019s statement said that even though Maciocio was not given access to the acquisitions that the pharmaceutical company was targeting, he would use the code name of the acquisition, the drug indication, the dose, the clinical trial phase, and\/or the drug\u2019s chemical structure to find out the name of the company that Pfizer was considering acquiring. Maciocio would trade based on this information and share the information with Hobson. The two men have been friends since childhood.<\/span><\/div>\n<div class=\"\"><\/div>\n<div class=\"\"><\/div>\n<\/div>\n<\/div>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/ex-oppenheimer-broker-pleads-guilty-insider-trading-case\/#more-6058\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Hobson, an ex-Oppenheimer &amp; Co (OPY) investment adviser, has pleaded guilty to the criminal charges of securities fraud and conspiracy to commit securities fraud. The 47-year-old Rhode Island broker admitted that he engaged in insider trading using information given to him by investment client Michael Maciocio in order to make illegal profits. Maciocio has\u00a0already\u00a0pleaded [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3811,3786],"tags":[3694,2696],"class_list":["post-6058","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-insider-trading","category-oppenheimer","tag-pinnacle-financial-partners","tag-rbc-capital-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ex-Oppenheimer Broker Pleads Guilty in Insider Trading Case &#8212; Investor Lawyers Blog &#8212; October 25, 2016<\/title>\n<meta name=\"description\" content=\"David Hobson, an ex-Oppenheimer &amp; Co (OPY) investment adviser, has pleaded guilty to the criminal charges of securities fraud and conspiracy to commit &#8212; October 25, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/ex-oppenheimer-broker-pleads-guilty-insider-trading-case\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ex-Oppenheimer Broker Pleads Guilty in Insider Trading Case &#8212; Investor Lawyers Blog &#8212; October 25, 2016\" \/>\n<meta name=\"twitter:description\" content=\"David Hobson, an ex-Oppenheimer &amp; Co (OPY) investment adviser, has pleaded guilty to the criminal charges of securities fraud and conspiracy to commit &#8212; October 25, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ex-Oppenheimer Broker Pleads Guilty in Insider Trading Case &#8212; 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