Boozy Tip on Pfizer Deal Leads to Insider Trading Charges

  • Lawyer allegedly tipped off adviser to pending acquisition
  • Pair faces as long as 20 years in prison if convicted

A Long Island investment adviser was indicted for allegedly trading on inside information after his client, fueled by a few glasses of wine, spilled a secret about Pfizer Inc.’s pending $3.6 billion acquisition of King Pharmaceuticals Inc. six years ago.

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