March 15, 2012
SEC Brings Merger Insider Trading Case Based on AA Meeting Leak
A few days ago, the SEC charged two financial advisors and three others in their circle of family and friends with insider trading for more than $1.8 million in illicit profits based on confidential information about a Philadelphia-based insurance holding company’s merger negotiations with a Japanese firm. The press has been all over this one given the breach of trust at an Alcoholics Anonymous meeting – see this WSJ article and this CNN Money piece…
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