SEC Targets 11 With Insider Trading Claims

Law360, New York (July 15, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has filed complaints against 11 individuals over their alleged involvement in insider trading schemes related to the Odyssey Investment Partners-Neff Corp. and Liberty Mutual Insurance Co.-Safeco Corp. mergers.

Three of the 11 defendants have already struck settlements with the SEC.

In one of the complaints, lodged in the U.S. District Court for the Southern District of Florida, the SEC accuses six individuals of insider trading leading up to the April 7, 2005, announcement that Odyssey would acquire rental equipment company...
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