- Five defendants on trial, including ex-Deutsche Bank broker
- Jury has deliberated 8 days after months of testimony
Jurors in a U.K. insider trading trial have been told they don’t need unanimous verdicts after failing to find agreement in 8 days of deliberations, a London judge said Friday.
The jury can now give verdicts of 11 members to 1, or 10 to 2, Judge Jeffrey Pegden said. The panel will re-convene Monday to try to reach a decision on the five defendants, after a trial that’s lasted 3-1/2 months.
The Financial Conduct Authority, which prosecuted the case, alleges former Deutsche Bank AG managing director Martyn Dodgson, Andrew "Grant" Harrison, an ex-corporate broker at Panmure Gordon & Co., accountant Andrew Hind, Benjamin Anderson, a private day trader, and businessman Iraj Parvizi worked together to trade securities with inside information between November 2006 and March 2010. The FCA claims Dodgson and Harrison passed price-sensitive information from their jobs to Hind, who then passed it to Anderson and Parvizi.
The FCA say the men traded tips that helped them make 7.4 million pounds ($10.7 million) in profits trading six stocks, including Sky Plc and Legal & General Group Plc. The case is dubbed "Operation Tabernula" by the regulator, Latin for "little tavern."