# Profs Menachem Brenner & Marti Subrahmanyam's research on insider trading is featured

1 Faculty News June 24, 2014 ![Harvard Business Review logo](/sites/default/files/styles/246w/public/assets/images/con_032358.jpg?itok=cHztGP4H)>

Excerpt from [Harvard Business Review](http://blogs.hbr.org/2014/06/insider-trading-is-more-commonplace-than-you-might-think/) -- "As many as one-fourth of all mergers and acquisitions of public companies in the U.S. appear to be the targets of undetected insider trading by investors with advance knowledge, according to a New York Times report on research by [Menachem Brenner](http://www.stern.nyu.edu/faculty/bio/menachem-brenner) and [Marti G. Subrahmanyam](http://www.stern.nyu.edu/faculty/bio/marti-subrahmanyam) of New York University and Patrick Augustin of McGill University. The researchers discovered the instances of what they call 'informed trading' through a statistical analysis of stock-option movements; fewer than 5% of the deals became the subject of Securities and Exchange Commission litigation over insider trading."

[Read more](http://blogs.hbr.org/2014/06/insider-trading-is-more-commonplace-than-you-might-think/)

Additional coverage appeared on [TIME](http://time.com/2895119/mergers-insider-trading/) and [Yahoo! Screen](https://screen.yahoo.com/study-says-insider-trading-occurs-133528025.html).