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I.B.M. ($IBM) Executive in Insider-Trading Case Departs

I.B.M. is getting a little more distance from the Galleon insider-trading case that broke earlier this month. The company posted a brief personnel-change message this morning on its internal Web site. "Bob Moffat, who had been placed on a leave of absence as a result of a U.S. federal investigation into his personal activities, is no longer an employee of IBM," it said. Robert W. Moffat Jr. was a longtime I.B.M. manager, who rose to become a senior vice president of the company in charge of its systems and technology group - chip manufacturing and server computers. In the federal indictment, Mr. Moffat was accused of passing along sensitive company information about I.B.M.'s earnings and the plans of a chip-making partner, Advanced Micro Devices, to a hedge fund broker. Mr. Moffat, through his lawyer, has denied any wrongdoing. (NYTimes.com)

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