SEC Drops Defendant In ISE Insider Trading Case

Law360, New York (August 21, 2009, 4:10 PM EDT) -- The U.S. Securities and Exchange Commission has dismissed its case against a financial consultant accused of trading on inside information related to a $2.8 billion merger between International Securities Exchange LLC and Eurex Frankfurt AG in 2007.

Judge George B. Daniels of the U.S. District Court for the Southern District of New York on Thursday dismissed the SEC's claims against Mark Larson with prejudice. The SEC said in court documents that he had acted on a recommendation, not a tip.

Larson was among three people the...
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