Federal prosecutors charged 30 individuals for a decade-long insider trading scheme.
The ring allegedly generated tens of millions of dollars in illicit profits.
Participants included corporate attorneys and financial professionals trading on nearly 30 upcoming M&A deals.
Attorney Nicolo Nourafchan allegedly led the conspiracy by stealing material non-public information from law firm networks.
The defendants accessed internal networks for deals they were not assigned to and passed information to traders for kickbacks.
Victim firms include Latham & Watkins, Goodwin Procter, and Wachtell Lipton.