Judge Grants Summary Judgment In Insider Trading Lawsuit

NEWARK, N.J. - Summary judgment against a former employee of Autodesk Inc. who is alleged to have provided inside information to a hedge fund manager as part of an insider trading scheme is warranted because the employee's relationship with the hedge fund manager demonstrates a "personal benefit to the tipper," a federal judge in New Jersey ruled Nov. 6 (Securities and Exchange Commission v. Clay Capital Management LLC, et al., No. 11-5020, D. N.J.; 2013 U.S. Dist. LEXIS 159130).

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