SEC settles insider trading case for more than $17m

first_img KCS-content whatsapp Share SEC settles insider trading case for more than $17m THE US Securities and Exchange Commission has accepted more than $17m (£11m) from two men to settle federal insider trading charges related to the takeover of biotechnology company MedImmune.Stephen Goldfield, 46, who ran the hedge fund firm Imperium Capital Management, was charged with making $13.98m (£9.05m) in illegal profit by trading in MedImmune securities before Anglo-Swiss drug giant AstraZeneca agreed in April 2007 to buy the firm for more than $15bn.The SEC also accused James Self Jr, 45, Goldfield’s friend and former Wharton School of Business classmate, of tipping him off about the MedImmune sale process with information he learned working for a New Jersey pharmaceutical firm. Goldfield agreed to settle for $16.65m, reflecting the profit plus interest, but will only pay $600,000 because he lost all the illegal profit in several aggressive put option trades. Self accepted a $50,000 civil fine. Neither admitted any wrongdoing. The settlement comes as federal regulators have brought a spate of insider trading cases after facing a wave of criticism for having missed fraud in previous years. Show Comments ▼ Wednesday 1 September 2010 8:19 pmcenter_img More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child‘The Love Boat’ captain Gavin MacLeod dies at Tags: NULL whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save ThousandsThe No Cost Solar ProgramUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoHero Wars Advertisement This game will keep you up all night! Hero Wars UndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndolast_img