Steven Metro, a former managing clerk in Simpson Thacher & Bartlett’s New York office charged nearly a year ago with insider trading, has been indicted by a federal grand jury in Trenton. The indictment comes at the same time another key figure in the alleged insider trading scheme appears to have reached a plea deal with federal prosecutors.
Paul Fishman, U.S. Attorney for the District of New Jersey, said in a statement Thursday that Metro would face felony charges for his alleged participation in a scheme that netted more than $5.6 million in illegal profits. The 17-page criminal indictment of Metro, a 40-year-old resident of Katonah, N.Y., mirrors many of the securities fraud charges levied against him by the Securities and Exchange Commission and federal prosecutors in Newark back in March 2014.
