Word: kidders
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...Kidder Smith New York City
...style Racquet & Tennis Club on Park Avenue. It was refined a few days later at a private home and golf club in the posh community of Locust Valley on Long Island's fashionable North Shore. Present: Peter Brant, 31, the handsome, polo-playing stockbroker who was one of Kidder Peabody's top salesmen, and Wall Street Journal Reporter R. Foster Winans, 35, one of the writers of the Journal's "Heard on the Street" column, an influential potpourri of stock-market gossip, tips and analysis. Brant's proposal: that Winans reveal to him the timing, subject...
...that Winans' tips on Journal stories led to 46 instances of insider trading in the stock of 27 companies. Also charged in the suit, which is backed up by more than 200 pages of documents, are Kenneth Felis, a college friend of Brant's and another former Kidder Peabody broker, who is said to have gained $302,000 from the trades, and David W.C. Clark, 34, a New York City lawyer and country club crony of Brant's. Clark is believed to have made...
...early November, Kidder Peabody's internal surveillance system picked up the pattern of trading connected with Journal stories. Felis was told to discontinue such activity, and a company lawyer warned Brant's client Clark about questions of criminal violations...
...money has been moved to Switzerland. While Winans was apologizing for his actions last week, Clark vigorously denied the charges. Said he: "I had no idea that any money changed hands between Mr. Brant and Mr. Winans." Clark said that $1.2 million was taken from his account at Kidder Peabody and deposited in Brant's account at Morgan Guaranty Trust without Clark's knowledge...