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A federal jury on Monday found a well-known marketing professor guilty of insider trading and conspiracy for tipping off friends about a merger in an insider trading deal that netted them $880,000.
Ohio State University professor Roger Blackwell was convicted of telling others about Kellogg Co.'s plan to buy Worthington Foods Inc. before the agreement was announced in October 1999. Blackwell, on Worthington Foods' board of directors at the time, was not allowed to disclose the pending acquisition to others.
...Prosecutors said Blackwell faces up to 10 years in prison.
Over the years, I've occasionally heard information from MBA students (and from friends working on the Street) that could have resulted in some nice trading profits . So far, I haven't succumbed to the temptation. Stories like this are a good reminder why.