Insider Trading

Tech specialist at law firm charged with insider trading

An information technology specialist at a global law firm was arrested Tuesday on charges of insider trading that netted him about $300,000, the FBI said.

Dmitry Braverman, 41, is the second employee of the Wilson Sonsini law firm to be accused of insider trading in recent years.

Braverman, who worked in the information systems department, was arrested without incident in San Mateo, California, FBI spokesman J Peter Donald told CNBC.

A file photo of FBI agents
Hyoung Chang | The Denver Post | Getty Images

Braverman is accused of trading on insider information involving such deals as Bain Capital's acquisition of Gymboree and Walgreen's acquisition of, the FBI said.

The law firm was employed by Gymboree and, investigators said.

"Today's charges against a staff member are deeply disturbing to say the least," Wilson Sonsini said in a statement to CNBC. "Client confidentiality is at the center of all we do and we have strict policies and internal controls established to protect it. We have and will continue to provide our full support to the federal investigation. In light of the pending actions by government authorities, we are not in a position to comment further at this time."

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According to the charging documents, Braverman began buying stock and options in Seagate Technology in March and April 2011. On the morning of April 6 FBI agents arrested an attorney at Wilson Sonsini, Matthew Kluger, on insider trading charges. That afternoon Braverman liquidated his entire Seagate position, the government said.

Kluger later plead guilty and is serving a 12-year sentence.

It could not immediately be determined whether Braverman has hired an attorney.

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By CNBC's Jim Forkin