- Associated Press - Monday, July 20, 2015

PHILADELPHIA (AP) - In a story July 16 about a former partner at a Philadelphia law firm being charged with insider trading, The Associated Press misspelled the man’s surname. It is Sudfeld, not Sudfield.

A corrected version of the story is below:

Lawyer charged with insider trading before client merger

Ex-law partner charged with insider trading before insurance merger; feds say he made $75k

PHILADELPHIA (AP) - A former partner at a Philadelphia law firm has been charged with insider trading linked to a client’s merger with another insurance firm.

Federal prosecutors have charged Herbert Sudfeld with making $75,000 by purchasing stock in Harleysville Insurance the day before its merger with Nationwide.

The 64-year-old Sudfeld, of Doylestown, is charged with securities fraud and lying to the FBI.

Defense lawyer Robert Welsh Jr. tells The Legal Intelligencer that Sudfeld will plead not guilty at his arraignment next week.

The indictment Thursday accuses the former Fox Rothschild partner of buying 3,000 shares of Harleysville stock the day before the companies merged and the stock doubled.

Fox Rothschild chairman Abe Reich says Sudfeld left the firm three years ago. He says the firm has zero tolerance for the violations alleged.

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