Feeds

Moffat denies SEC's insider trading charges

Claims he never said anything 'material'

SANS - Survey on application security programs

Former IBM hardware boss Robert Moffat asked a US court this week to dismiss the insider trading civil charges brought against him by the SEC.

Reuters reports that in filings delivered by his lawyers, Moffat admitted speaking to Danielle Chiesi, of hedge fund New Castle. Moffat and Chiesi are amongst those facing charges related to the "Galleon" insider trading scandal.

But Moffat denies providing "material nonpublic information" regarding IBM, Sun Micro and AMD.

The papers say that Moffat was one of a number of IBM execs performing due diligence on Sun earlier this year - the ailing server firm was being shopped around at the time. During this time, Moffat confirms he communicated from "time to time" with Chiesi.

Chiesi also denies receiving, distributing or making use of any material nonpublic information. Chiesi's firm, New Castle also denies the charges, as does former New Castle general partner, Mark Kurland.

Two other defendants - ex-Intel Capital executive Rajiv Goel and former McKinsey partner Anil Kumar - have invoked their fifth amendment right not to be a witness against themselves.

Moffat was charged in the case in October. At the time, Moffat headed up IBM's hardware operations and was seen as the heir to current CEO Sam Palmisano

Moffat initially stepped back from his IBM role, and left the company altogether at the end of October to concentrate on fighting the charges. ®

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.