3rd Circuit Affirms Record Sentence For Attorney at Center of Insider Scheme

The U.S. Court of Appeals for the Third Circuit July 9 affirmed the record 12-year sentence imposed on mergers and acquisitions lawyer Matthew Kluger over his role in a long-running, three-man insider trading scheme involving confidential information about business transactions involving Kluger’s law firms’ clients (United States v. Kluger).

Among other matters, Judge Morton Greenberg concluded that the district court properly considered unlawful gains realized by Kluger’s co-conspirator Garrett Bauer for sentencing guidelines purposes (109 DER EE-11, 6/7/12). He also said that despite the “obvious disparity” between Kluger’s sentence and the nine-year sentence for Bauer, the ...