SEC v. Cardillo, Civil Action No. 11-CV-11 civ 0549 (S.D.N.Y. Filed Jan 26, 2011). Michael Curdillo, a former trader at Gelleon Management, LP is alleged to have traded while in possession of inside information in violation of Exchange Act Section 10(b). The information concerned the acquisitions of 3Com and Axcan. As a result of that trading the fund made over $730,000 in trading profits. The information traces to two Ropes and Grey associates, Arthur Cutillo and Brien Santarias, who misappropriated it. They then tipped Zivi Goffer, a former trader at Schottenfeld Group LLC known as “Octopussy” because of his many sources of information. Mr. Goffer in turn furnished the information to a trader who worked in the Galleon offices, who furnished it to Mr. Cardillo. Previously, Mr. Cardillo pleaded guilty to criminal charges. The SEC case is in litigation.