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WSJ: Another Arrest in 'Expert Network' Insider Case

By Michael Rothfeld Of THE WALL STREET JOURNAL NEW YORK -(Dow Jones)- A former employee with Marvell Technology Group Ltd. (MRVL) has been charged with leaking confidential information about the company to a consultant who then passed it along to hedge funds, according to a court filing by federal prosecutors in Manhattan. The Marvell employee, Stanley Ng, was arrested in California. He was released on $50,000 bond on Wednesday. Mr. Ng is the 14th person publicly charged in a wide-ranging government probe, dubbed "Investigation Matchmakers," into alleged insider-trading involving expert-network firms. Of those, 12 have pleaded guilty or been convicted. He is accused of passing the information to Winifred Jiau, who was convicted at a trial in Manhattan federal court in June of selling information about earnings and profits of Marvell and Nvidia Corp. (NVDA) to hedge-fund employees through a Mountain View, Calif., expert-network company, Primary Global Research LLC. Ms. Jiau, 43 years old, earned $208,000 over two years working for the expert firm, prosecutors said. One of the witnesses at her trial, former Nvidia employee Sonny Nguyen, testified that Ms. Jiau had convinced him and Mr. Ng to form an investment club, in which they shared inside information. Mr. Nguyen, who has pleaded guilty to conspiracy to commit securities fraud and wire fraud, testified that he wasn't paid for his information. Prosecutors said Ms. Jiau gave her sources gifts, which for Mr. Nguyen included live lobsters and an iPhone, and took them to lunch. Expert-network firms arrange, for a fee, phone calls and meetings between public-company employees freelancing as consultants, and hedge-fund analysts and traders seeking an investing edge. While the consultants are legally permitted to provide general insight, prosecutors say they have often passed along inside information about their employers.

Stock News for Marvell (MRVL)
DateTimeHeadline
05/21/201516:22:15Current Report Filing (8-k)
05/21/201516:10:00Marvell Technology Group Ltd. Announces Chief Financial Officer...
05/21/201516:07:33Current Report Filing (8-k)
05/21/201516:05:00Marvell Technology Group Ltd. Reports First Quarter of Fiscal...
05/19/201506:02:24Additional Proxy Soliciting Materials (definitive) (defa14a)
05/19/201506:02:23Proxy Statement (definitive) (def 14a)
05/18/201508:19:00China Unicom Launches World's First 399RMB 5" 4G LTE XiaoLaJiao...
05/06/201517:00:26NVIDIA Corporation Finally Ditches Icera
05/06/201516:01:20NVIDIA Corporation Finally Ditches Icera
05/06/201512:00:02Intel Corporation Didn't Win the Wi-Fi Spot Inside the Microsoft...
05/04/201508:00:00Marvell Unveils Industry-Leading ZigBee Wireless Microcontroller...
05/01/201518:48:43Cowen and Company Reiterates "Outperform" Rating for Marvell...
04/30/201509:12:43Marvell Technology Group Receives "Buy" Rating from TheStreet...
04/29/201503:49:32JMP Securities Lowers Marvell Technology Group to Underperform...
04/27/201518:12:21Marvell Technology Group Rating Lowered to Hold at Credit Suisse...
04/27/201518:12:19Marvell Technology Group Rating Lowered to Hold at Benchmark...
04/27/201515:19:32Brean Capital Analysts Give Marvell Technology Group a $16.00...
04/27/201515:19:23Marvell Technology Group Cut to Hold at Deutsche Bank (MRVL)
04/27/201515:19:20Raymond James Downgrades Marvell Technology Group to Buy (MRVL)
04/27/201513:53:50MARKET SNAPSHOT: U.S. Stocks Struggle To Trade Higher After Records

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