Preet Bharara

Jay Bybee

* An interesting look at the role played by U.S. Attorney Preet Bharara and his S.D.N.Y. colleagues in the recent Russian spy swap. [New York Times]

* The government’s obscenity case against porn purveyor John Stagliano has climaxed… in a dismissal. [Politico via First One @ One First]

* Now that the damn hole is plugged, at least for the time being, all eyes are on BP compensation fund czar Kenneth Feinberg. [New York Times]

* The Justice Department has launched the largest health-care fraud sting in U.S. history. [Washington Post]

* Still on the DOJ, here’s the interesting backstory on how Jay Bybee came to head the Office of Legal Counsel. [Main Justice]

Arthur J Cutillo Arthur Cutillo Ropes Gray headshot.JPGThe news was first reported by CNBC. See Dealbreaker for more details.
We have phone calls and emails in to Ropes & Gray and are waiting to hear back. We will keep you posted on further developments.

If you have more info, please email us. Thanks.

UPDATE (10:00 AM): According to Bloomberg, the FBI has arrested Arthur Cutillo (pictured). He is no longer on the Ropes & Gray website, but you can find his bio via Google Cache. Interestingly enough, he was an IP litigator, not a corporate attorney.

CNBC is now reporting that a Ropes & Gray employee allegedly provided inside information about various “going private” transactions the firm was involved in. Some of these transactions apparently involved companies heavily dependent upon intellectual property, such as technology companies.

UPDATE (10:10 AM): In case the Google Cache entry is removed, we have posted Arthur Cutillo’s bio after the jump. He graduated from Rutgers (undergrad) and Villanova (law), and he worked at Merck before joining Ropes.

UPDATE (10:15 AM): Here is a statement from Ropes & Gray:

We are deeply disappointed to learn about this situation, which suggests an extreme breach of this person’s duty of trust to our clients and to the firm. We cannot comment in detail on an ongoing investigation but we are moving quickly to protect our clients and are cooperating fully with authorities.

UPDATE (12:15 PM): U.S. Attorney Preet Bharara (S.D.N.Y.) is giving a press conference discussing the charges. One of the other individuals charged, Michael Kimelman, once worked as an associate at Sullivan & Cromwell.

UPDATE (4:30 PM): We’ve honored Artie Cutillo, Michael Kimelman, and a third lawyer, Jason Goldfarb, as our Lawyers of the Day.
Art Cutillo’s Ropes bio and Mike Kimelman’s LinkedIn profile, after the jump.

Seven Arrested In Insider Trading Case [Dealbreaker]

double red triangle arrows Continue reading “Breaking: Arrest at Ropes & Gray in Galleon Insider Trading Case”

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