Also charged in the complaint are Sunil Bhalla, an executive at the technology firm Polycom, and Shammara Hussain, a consultant at Market Street Partners.
In addition, the complaint also alleges that an intermediary named Roomy Khan passed the inside information from his source at Market Street Partners to Feinblatt and others at Trivium Capital Management.
Khan was not charged in the complaint: His status in the current investigation is unclear at this time.
The government alleges that the insider trading in Google stock involved leaking of quarterly earnings in 2007, ahead of their disclosure to the public. The information was allegedly collected by Shammara Hussain when Market Street Partners was employed as a consultant to Google.
In an interesting footnote, the complainant states that Hussain provided Khan with inside information ahead of Google's release of its second quarter 2007 earnings. According to the complaint, Hussain allegedly informed Khan that Google profits would be lower that quarter than the consensus guidance projected.
Khan then took a short position in the stock by buying put options—and profited handsomely, earning $500,000 on the trade after holding the position for less than a week.
Curiously, when Hussain approached Khan with a request for $100,000-$200,000 per quarter in order to keep providing inside information, Khan refused.
Hussain then stopped provided Khan with the information, the complaint alleges.
Perhaps there truly is no honor among thieves.
Calls to Google for comment were not immediately returned.
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