Deals
Ex-Merck Analyst Zwerko Pleads Guilty to Insider-Trading
This article is for subscribers only.
A former Merck & Co. analyst pleaded guilty to federal insider-trading charges for passing merger tips to an ex-business school classmate who worked at Bank of New York Mellon Corp.
Zachary Zwerko told U.S. District Judge Alvin Hellerstein in New York on Thursday that he gave inside information to the former BNY Mellon employee, who used it to earn $700,000 in illicit profit. Zwerko, who said he was paid $57,000 for the tip, pleaded guilty to conspiracy and three counts of securities fraud.