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U.S. charges two more in IBM insider trading case

26
Jun
2014

By Emily Flitter and Nate Raymond NEW YORK (Reuters) – U.S prosecutors in Manhattan announced charges Wednesday against two men they said participated in a ring of information-sharing that led to illegal trading in a technology company acquired by IBM Corp IBM.N in 2009. Benjamin Durant, 37, was charged with two counts of securities fraud and one count of conspiracy, while Daryl Payton, 38, was charged with three securities fraud counts and one conspiracy count. The lawyer, who has not been charged, was identified in a related U.S. Securities and Exchange Commission lawsuit on Wednesday as Michael Dallas, a former associate at the New York law firm Cravath, Swaine Moore. IBMs full name is International Business Machines Corp. A Cravath spokeswoman did not immediately respond to a request for comment, nor did an employer listed for Dallas on his LinkedIn page.

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