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CryoLife Inc. Message Board

  • dlhild@ymail.com dlhild Feb 5, 2010 7:43 PM Flag

    CryoLife Advisor Linked to Scandal By Robin Young

    CryoLife Advisor Linked to Scandal By Robin Young
    The advisor to CryoLife, the Georgia-based company that has launched a hostile takeover of Minnesota-based biomaterials company Medafor, was the unwitting link in an insider stock trading scandal according to various media reports and news stories from the Reuters news service. Direct access to media reports is available at the online news agency, Media Bistro and its daily news stream PRNewser (http://www.mediabistro.com/prnewser/).
    Nina Devlin, an advisor to CryoLife and the contact person for Medafor shareholders (!), has been tied directly to former Lehman Brothers broker (and Ms. Devlin’s husband) Matthew Devlin who was charged in 2008 with insider trading. He was specifically accused of sharing information about his wife, Nina Devlin’s work on behalf of public relations clients of her previous firm, the international Brunswick Group.
    Ms. Devlin has since left Brunswick Group and last we heard was a Senior Vice President with the Edelman Public Relations firm.
    According to a December 18, 2008, Reuter’s article U.S. authorities charged Matthew Devlin, of New York City, with participating in an insider trading scheme which involved using information obtained illegally from his wife Nina Devlin without her knowledge and then passing it along to third parties.
    Matthew Devlin, 35, entered a plea of guilty on December 16, 2008, before U.S. District Judge Barbara Jones to a complaint charging him with four counts of conspiracy to commit insider trading and one count of securities fraud.
    Nina Devlin was not charged and, according to all accounts, did not know about her husband’s illegal activities. The information, according to authorities, netted the insider traders, including a 1994 Playboy Playmate $4.8 million. Matthew Devlin, himself, allegedly received cash, a Cartier watch, a widescreen TV and tuition at a Porsche driving school.
    Apparently, Nina Devlin’s work on behalf of clients like CryoLife—M&A transactions, proxy fights, activist investor situations, IPOs, and crisis & litigation assignments—was used by her husband and his cohorts to trade securities and gain illegal profits.
    All told, approximately 13 of Nina Devlin’s clients were affected by her husband’s activities. In the news reports of the details of the case, Nina Devlin was referred to as the “golden goose.” One of the emails between the co-conspirators said: “We need the goose to pop its head out and show us the biz. Where has my goose gone? Come back little goose.”
    Nina Devlin / www.mediabistro.com

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