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Second Qualcomm insider trading suspect arrested

The U.S. prosecutor confirms that Robert Herman, a former sales director at Qualcomm Inc. (Nasdaq: QCO), is in custody and scheduled to appear in federal court in San Diego at 2 p.m. for arraignment.

Prosecutors said May 12 that Herman was at large. Herman and co-defendant Derek Cohen are accused of making $230,000 in profit from trades in Atheros Communications Inc. when Qualcomm bought the company in 2011.

The case is U.S. v. Cohen, 14-cr-01202, U.S. District Court, Southern District of California (San Diego).

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