Bloomberg Law
Nov. 12, 2015, 9:09 PM UTC

Ex-Simpson Thacher Clerk Pleads Guilty in Note-Chewing Insider Trading Case

Bloomberg Media

By David Voreacos, Bloomberg News

A former law firm clerk pleaded guilty to stealing corporate secrets and passing them to a friend, who chewed and swallowed the written notes after showing them to a broker at New York’s Grand Central Terminal.

Steven Metro, 41, once a managing clerk at Simpson Thacher & Bartlett LLP in New York, admitted Thursday to taking part in a five-year insider-trading scheme that prosecutors said made $5.6 million in profit.

From 2009 to 2013, Metro stole data on tender offers and mergers and acquisitions and gave it to a friend, Frank Tamayo, 42, prosecutors said. ...

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