MFS Fund Manager Found Liable For Insider Trading

Law360, New York (June 23, 2009, 12:00 AM EDT) -- A federal jury has found a former mutual fund manager for Massachusetts Financial Services Co. liable for insider trading on 30-year treasury bonds that allegedly brought in more than $3 million in illegal profits.

The jury issued its verdict Monday against Steven E. Nothern following a trial in the U.S. District Court for the District of Massachusetts. He was accused of helping generate about $3.1 million in illegal profits after trading on inside information obtained second-hand from the U.S. Department of the Treasury.

Nothern, former senior...
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