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Excerpt from Mumbai Mirror -- "Prof Subrahmanyam and his colleagues found that shockingly 26 per cent of mergers and buyouts were accompanied by evidence of insider trading. Using sophisticated statistics, they showed that the chance of such abnormal buying, happening just by chance, was 3 in a trillion! The record of actual investigation and prosecution for insider trading (like the Rajat Gupta case) is woefully short of 26 per cent. Even that takes more than two years to secure conviction (considered fast track by US standards). So this problem is acute. But Prof Subrahmanyam and his team seem to have put fresh tools in the hands of SEC to go after the rogues."

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