Revision History

Federal prosecutors have identified Avi Sutton, a former Wachtell Lipton associate who became general counsel and COO at boutique bank LionTree, as an unindicted co-conspirator in a sweeping insider trading scheme that netted tens of millions in illicit profits from nearly 30 M&A deals over a decade. The case, which resulted in charges against 30 individuals in May 2026, raises fundamental questions about compliance failures at elite law firms and the risks posed by the attorney-to-banker career pipeline.