Former FrontPoint Partners Manager May Or May Not Plead Guilty To Insider Trading

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Former FrontPoint Partners hedge fund manager Dr. Joseph "Chip" Skowron might be preparing to plead guilty, a court filing showed on Tuesday. In the court filing, federal prosecutors from the Manhattan U.S. attorney's office said they intended to file a criminal information against Skowron, rather than seek a grand jury indictment. Defense attorneys say the move by prosecutors to bypass a grand jury and file an information usually indicates a defendant has either agreed to cooperate with the government, or will plead guilty. If Skowron enters a guilty plea, he will be the 47th person charged by prosecutors to either plead guilty or be convicted on charges arising from in the insider trading investigation. [Reuters]

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