Frank Tamayo, who served as the alleged middleman in passing along insider trading tips from Steven Metro, a managing clerk at the Simpson Thacher law firm, to Vladimir Eydelman, a broker with Oppenheimer & Co., resolved a lawsuit against him by the Securities Exchange Commission last week. According to the SEC, because Mr. Tamayo entered into a cooperation agreement and helped the agency gather evidence against Mr. Metro and Mr. Eydelman, he will not be assessed a monetary penalty. Instead he will only be required to disgorge trading profits in excess of more than US $1 million (subject to court approval). According to the SEC, the information exchanges between Mr. Tamayo and Mr. Eydelman typically occurred in the main concourse of Grand Central Station in New York City by the central information booth and clock. After passing along tips on napkins or post-it notes, Mr. Tamayo then chewed up and sometimes ate the napkin or note to destroy evidence of the tip. Criminal charges and an SEC enforcement action were previously filed against Mr. Metro and Mr. Eydelman (Click here for details regarding this matter in the article “Previously Unnamed Middleman Named in SEC Insider Trading Suit; He Allegedly Ate Material Evidence” in the September 21, 2014 edition of Bridging the Week.)