Broker charged with insider trading following Score Media and Gaming takeover

Regulation

A New York City broker was charged over an insider trading scheme that involved a friend stealing sensitive merger information from the laptop of an executive assistant at an investment bank.

Spartan Capital Securities LLC broker Jordan Meadow was using deal information that his friend, Steven Teixeira, allegedly took from his girlfriend’s computer while the pair were working at home during the pandemic, according to an indictment unsealed in federal court in Manhattan.

The charges against Meadow were among multiple insider-trading cases made public Thursday as federal prosecutors aggressively target the crime. Last week, the US Attorney’s Office won a resounding victory as a jury convicted a former Goldman Sachs Group employee of trading on confidential information he obtained from the bank.

The documents on the bank employee’s laptop detailed deals the investment bank was advising on, including Penn National Gaming’s’s $2.2 billion takeover of Score Media and Gaming in 2021 and Broadcom’s proposed takeover of VMware, which prosecutors said was worth $65 billion.

Teixeira allegedly used a friend as an intermediary to pass on the information about upcoming acquisitions of Score Media and Gaming.

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