Yahoo! Director Prosecution – U.S. ATTORNEY AND FBI ASSISTANT DIRECTOR-IN-CHARGE ANNOUNCE GUILTY PLEAS OF YAHOO! EXECUTIVE AND CALIFORNIA HEDGE FUND PORTFOLIO MANAGER FOR INSIDER TRADING

LawFuel.com – US Legal Newswire – Preet Bharara, the United States Attorney for the Southern District of New York, and Janice K. Fedarcyk, the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced that ROBERT KWOK and REEMA SHAH pled guilty today in Manhattan federal court to one count of conspiracy to commit securities fraud in connection with an insider trading scheme in which KWOK, an executive with Yahoo!, provided material, non-public information to SHAH, a portfolio manager at an asset management firm that managed billions of dollars in mutual funds and a hedge fund, concerning Yahoo!’s quarterly earnings and potential business transactions.

SHAH, who then executed trades in Yahoo!, also pled guilty to one count of securities fraud. KWOK pled guilty before United States District Judge Robert Patterson, and SHAH pled guilty before United States District Judge John Koeltl.

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