Matthew Goldstein reports:
The employee for Taiwan Semiconductor Manufacturing Co arrested in the U.S. investigation into insider trading by hedge funds was approached by federal agents this past summer [and asked to cooperate with the investigation], said a person familiar with the matter. The TSMC employee, Manosha Karunatilaka, was one of four people arrested Thursday and charged by federal prosecutors with passing on confidential corporate information to hedge funds. Karunatilaka was a consultant for California-based “expert network” firm Primary Global Research.
The source said that Karunatilaka, while working for Primary Global, was approached by a number of hedge funds to provide information. One hedge fund he dealt with was Level Global.