Securities Law News

Ex-Perella Banker Convicted in Insider Case -- in 65 Minutes (2)

Sept. 23, 2019, 2:45 PMUpdated: Sept. 23, 2019, 6:51 PM

Former Perella Weinberg Partners LP managing director Sean Stewart was convicted of insider trading, the second time a federal jury has found the banker guilty and a win for prosecutors after losing their smoking gun.

The case was as much family tragedy as courtroom drama. Stewart was accused of leaking information on five health-care mergers to his father. While he never got any of the profit, his father and two associates raked in $1.1 million from trading on the tips they received from 2011 to 2014, prosecutors said. Stewart’s father got probation after pleading guilty.

Jurors in Manhattan deliberated for...

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