Scammers, Spammers, and Slammers

[sludgehound]

SEC Nabs IT Manager for Insider Trading

http://blogs.wsj.com/deals/2010/12/07/sec-nabs-it-manager-for-insider-trading/

December 7, 2010, 4:06 PM ET
SEC Nabs IT Manager for Insider Trading.The Securities and Exchange Commission today charged a former information technology manager at a law firm — and his brother-in-law — with insider trading.
The SEC says over the course of a year, Jeffery J. Temple tapped into secret information about mergers and used it to trade ahead of at least 22 deal announcements “involving 20 companies that retained his former employer as counsel in some capacity.” Temple also tipped off his brother-in-law who made some of the same trades, the SEC said.
Some of the deals in which Temple traded were Google’s deal for On2 Technologies, Disney’s purchase of Marvel Entertainment, Xerox’s purchase of Affiliated Computer Services, Airvana’s takeover by SAC, and DynCorp’s acquisition by Cerberus Capital, according to the SEC complaint.
READ THE SEC LAWSUIT HERE. (It's a .PDF)
The SEC says Temple and Benedict M. Pastro made more than $182,000 in illegal profits from the insider trading.The SEC didn’t name the Delaware law firm at which Temple worked.

Copyright 2008 Dow Jones & Company, Inc. All Rights Reserved