Insider dealing three in court

CITY watchdog the Financial Services Authority (FSA) yesterday hauled two lawyers and a former finance chief into court, amid its &ldquo;be afraid&rdquo; crackdown on fraud.<br /><br />The FSA accused Andrew King, formerly finance head of Manchester-based Neutec Pharma, of disclosing inside information about the company to lawyer Michael McFall ahead of last Wednesday&rsquo;s takeover of the firm by Swiss pharmaceutical Novartis.<br /><br />Novartis last week bid &pound;10.50 a share for Neutec &ndash; more than double its share price at the time.<br /><br />McFall, a former partner at&nbsp;McDermott Will &amp; Emery, faced charges of buying 3,955 Neutec shares based on inside talk and also of passing the information on to Andrew Rimmington, a former partner at Dorsey &amp; Whitney.<br /><br />Rimmington is charged with acquiring a total of 6,961 shares in Neutec Pharma and the lawyers are also charged with jointly buying 3012 shares based on the information.<br /><br />Rimmington and King have denied the charges via lawyers while McFall has yet to comment.<br /><br />They spoke only to confirm their names when they appeared at Westminster Magistrates&rsquo; Court and were released on unconditional bail.&nbsp;