IR Firm Investigated for Selling Google Secrets to Hedge Fund

Market Street Partners, a small investor relations firm in San Francisco is caught up in an FBI investigation of insider trading of at the Galleon Group hedge fund. The Reuters story cites SEC documents that tell of an unnamed agency staffer selling insider information about its client Google to Galleon for between $100-$150k per quarter. Galleon shorted the stock (NASDAQ: GOOG) to the tune of $9 million in profits. Remarkably, this is the largest hedge fund insider trading case in history.