Ex-Gibson Dunn Attorney Pleads Guilty to Insider Trading Charge

A visiting Brazilian attorney who was working at Gibson, Dunn & Crutcher in the US pleaded guilty to insider trading in shares of companies represented by the law firm.

Romero Cabral Da Costa Neto entered his plea in Washington federal court on Wednesday before US District Judge Carl Nichols. His sentencing is scheduled for Dec. 20.

In August, the US attorney for the District of Columbia charged Costa with using confidential information to make trades on deals, including the purchase of CTI BioPharma Corp. by Orphan Biovitrum AB. The Securities and Exchange Commission also brought a lawsuit, which ...