Former BigLaw lawyer will get 1-year suspension for buying and selling on info realized as conflicts counsel
A former Cozen O’Connor lawyer has agreed to a one-year suspension of his regulation license in Pennsylvania for utilizing info that he realized as a conflicts lawyer to purchase inventory prematurely of a merger.
Gericke, now 61, earned a revenue of $10,000 by buying and selling within the inventory of agency shopper Liberty Property Belief, in keeping with the joint petition for self-discipline. Gericke purchased the inventory in October 2019 after a tax associate requested Gericke to run a conflicts verify on one other firm, Prologis, earlier than a potential merger with Liberty Property Belief.
Gericke left Cozen O’Connor in August 2021. The regulation agency beforehand informed Legislation.com that Gericke’s alleged conduct violated the regulation, in addition to the agency’s insurance policies and procedures.
“Once we grew to become conscious of Mr. Gericke’s exercise, we took immediate and applicable motion, together with cooperating with the SEC,” the agency informed Legislation.com in a press release. “We’re glad that this matter has been resolved and that the conduct of the previous worker resulted in no hurt to our shopper.”
Gericke later acknowledged in an interview with representatives of the U.S. Securities and Change Fee that his buy violated SEC guidelines. He paid a $20,000 fine as a part of a November 2021 settlement with the SEC.
The suspension takes impact April 19. Gericke joined Dugan, Brinkmann, Maginnis and Tempo after leaving Cozen, in keeping with Legislation.com, however he’s not currently listed as a lawyer on the brand new agency’s web site.
Gericke’s lawyer, Josh J.T. Byrne, didn’t instantly reply to an e-mail request for remark.