Feds say 3 hacked law firms’ networks, made insider trades

Federal prosecutors have charged three Chinese nationals accused of profiting from insider information about mergers and acquisitions by hacking into the networks of law firms working on the deals, authorities said Tuesday. The three men made more than $4 million in profits by buying stock in companies that were about to be acquired and then selling the shares after the acquisitions were announced, U.S. Attorney Preet Bharara said.