Insider Trading Whistleblowers Receive $1 Million Reward From SEC

Two whistleblowers recently received a $1 million reward from the Securities Exchange Commission (SEC) for providing information in connection with an insider trading case against the hedge fund Pequot Capital and its CEO Arthur Samberg.  The reward was part of a $28 million settlement to resolve allegations by the SEC that Mr. Samberg traded on inside information about an upcoming earnings report from Microsoft provided by a former Microsoft employee who is in the process of being hired by Pequot.  The hedge fund allegedly received $14.8 million in illegal profits from trading on the inside information.

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