Gerson Lehrman’s website says it provides “access to primary research for a wide range of companies: financial and investment institutions, life science companies, the Fortune 1000 and entrepreneurs around the globe.” That seems innocent enough. And to underscore the firm’s commitment to what it calls “best practices,” the website features a section on “Standards” that outlines a set of rules designed to make sure the paid members of its expert network, called “Council Members,” do not provide information on “subject matter that a Council Member cannot discuss.”

Still, the same Times article opined that “the expert network business model is inherently perilous,” citing the case of another expert network that closed its doors after being caught up in a different insider trading case.

So, I’m wondering whether amid the publicity swirling around the SAC allegations, Gerson Lerhman and its competitors have done anything to change how they operate, and whether business is down because their hedge fund clients have gotten spooked.

If you'd like to get email from CJR writers and editors, add your email address to our newsletter roll and we'll be in touch.

Steven Brill , the author of Class Warfare: Inside the Fight To Fix America’s Schools, has written for magazines including New York, The New Yorker, Time, Harper's, and The New York Times Magazine. He founded and ran Court TV, The American Lawyer magazine, ten regional legal newspapers, and Brill's Content magazine. He also teaches journalism at Yale, where he founded the Yale Journalism Initiative.