The investigation concerning possible insider trading just prior to IBM Corp’s acquisition of Lotus Development Corp back in 1995 (CI No 2,681) is continuing. Last week Robert Kowalskie pleaded not guilty in federal court in Manhattan to charges of perjury, obstruction of justice and getting another person to lie under oath. Another investor pleaded guilty earlier this month to a single count of perjury. Neither man worked for IBM or Lotus and it is unclear how Kowalskie heard of IBM’s plans but he is alleged to have told an acquaintance that a ‘reliable source’ had told him of the proposed purchase. He is said to have told the acquaintance to purchase Lotus call options.
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