Another Sneak-Peek Trading Case
In the Pajcin complaint, prosecutors went out of their way to note that Business Week "has taken extensive measures to secure the confidentiality" of the stocks mentioned in the "Inside Wall Street" column.
The complaint says that Marcial's column is "only read by a few select editors"' at the magazine. The names of the various companies discussed in each column "are not inserted into the stock charts used in the column until 5 p.m. ET on Wednesday, the day of printing." The four printing companies Business Week employs also have a number of strict instructions for handling the column.
Pajcin's attorney, Paul Lieber, declined to comment. Pajcin, 28, most recently worked at Schonfeld Securities, a proprietary daytrading firm, according to a copy of his brokerage registration statement.
Schonfeld officials did not return a phone call. There's no indication the daytrading firm is implicated in the alleged scheme. The complaint says Pajcin made his trades through an account with an online brokerage firm.
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