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In re Goldfarb
Citations: 96 A.D.3d 12; 941 N.Y.S.2d 231
Court: Appellate Division of the Supreme Court of the State of New York; April 3, 2012; New York; State Appellate Court
On April 21, 2011, the respondent pleaded guilty in the Southern District of New York to conspiracy to commit securities fraud and two counts of securities fraud, all federal felonies. He was sentenced on August 19, 2011, to three years’ imprisonment for each count, along with a $32,500 fine and a $200 assessment fee. The plea proceedings revealed the respondent's involvement in insider trading, where he received material nonpublic information about the acquisitions of 3Com Corporation and Axcan Pharm, Inc. from Arthur Cutillo and Brien Santarlas, who misappropriated the information from their law firm, Ropes and Gray. The respondent used Jason Goldfarb as an intermediary to obtain this information, paying approximately $97,500 in total. This led to profits exceeding $1 million from trades in Goffer’s accounts. The respondent acknowledged his participation and understanding of the wrongdoing. Under Judiciary Law, his felony conviction mandated automatic disbarment. He expressed remorse in a letter to the Court, citing financial motivation to assist his parents. Consequently, the Grievance Committee's motion to strike his name from the roll of attorneys was granted, effective April 21, 2011. Jason Goldfarb, also known as Jason Cory Goldfarb, is disbarred effective April 21, 2011, with his name removed from the attorney roll. He must adhere to the rules for disbarred attorneys as outlined in 22 NYCRR 691.10. Furthermore, he is prohibited from practicing law in any capacity, including acting as an agent or employee, appearing before any legal authority, providing legal opinions or advice, and presenting himself as an attorney. If he possesses a secure pass issued by the Office of Court Administration, it must be returned immediately, and he is required to certify this return in his compliance affidavit as mandated by 22 NYCRR 691.10(f).