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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
08/24/201616:16:50Initial Statement of Beneficial Ownership (3)
08/23/201616:17:22Current Report Filing (8-k)
08/18/201616:20:00Marvell Technology Group Ltd. Announces Appointment of Jean Hu...
08/16/201616:24:44Current Report Filing (8-k)
08/15/201619:38:51Statement of Changes in Beneficial Ownership (4)
08/15/201618:57:03Statement of Changes in Beneficial Ownership (4)
08/15/201616:41:09Statement of Changes in Beneficial Ownership (4)
08/15/201616:35:05Statement of Changes in Beneficial Ownership (4)
08/15/201616:34:39Statement of Changes in Beneficial Ownership (4)
08/15/201616:33:20Statement of Changes in Beneficial Ownership (4)
08/15/201616:32:30Statement of Changes in Beneficial Ownership (4)
08/15/201616:32:05Statement of Changes in Beneficial Ownership (4)
08/15/201616:32:05Statement of Changes in Beneficial Ownership (4)
08/15/201616:15:00Marvell Technology Group Ltd. Announces Annual Meeting of Shareholders
08/15/201608:45:00Marvell Technology Group Ltd. Regains Compliance with Nasdaq...
08/12/201616:33:19Current Report Filing (8-k)
08/11/201608:45:00Marvell Technology Group Ltd. Announces Conference Call to Review...
08/11/201608:43:00Marvell Management to Speak at the Citi Global Technology Conference
08/10/201616:40:59Securities Registration: Employee Benefit Plan (s-8)
08/10/201616:39:14Amended Annual Report (10-k/a)

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