A former director of sales for U.S. chipmaker Qualcomm Inc pleaded guilty in San Diego on Thursday to insider trading, officials said. Derek Cohen, 52, admitted that he netted about $200,000 from a series of stock and options trades made after learning that the company planned to buy Atheros Communications in 2011, a statement from the U.S. Attorney's Office in San Diego said. As knowledge of pending Atheros acquisition spread within Qualcomm, Cohen spent about $430,000 on stock and call options. Former sales director Robert Herman pleaded guilty in July to making about $30,000 from trading the stock before and after the acquisition, while Michael Fleischli pleaded guilty to netting about $3,000, prosecutors said.
via Business News http://ift.tt/17yDJAU
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