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The Wall Street Journal: Two charged with insider trading over 2010 Pfizer acquisition

A former partner at law firm Hunton & Williams LLP and his investment adviser were criminally charged with participating in an insider-trading scheme ahead of a Pfizer Inc. acquisition.

Prosecutors said Robert Schulman, 58, an intellectual-property lawyer at Hunton & Williams in Richmond, Va., tipped off his investment adviser, Tibor Klein, in 2010 about a pending merger between Pfizer PFE, +0.14% and King Pharmaceuticals Inc. Klein, 43, was president of the investment-advisory firm Klein Financial Services.

Schulman and Klein and their co-conspirators allegedly traded in King securities ahead of the deal and reaped more than $400,000 in profit, according to a federal indictment unsealed Wednesday.

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