BOSTON –An attorney for a hedge-fund manager said Thursday his client plans to plead guilty in an agreement with prosecutors who charged him with insider trading in connection with an alleged tip about a bank acquisition.
The attorney, Mark Pearlstein, declined to disclose the recommended sentence and other details of the plea agreement that Michael Tom reached with prosecutors because it has not been formally entered into court.
“He intends to plead guilty to the charges, and he accepts responsibility and wants to move on,” Pearlstein said.
