Ex-SemGroup Exec Settles SEC Insider Trading Suit

Law360, New York (October 26, 2009, 3:30 PM EDT) -- Former SemGroup LP executive Don N. Spaugy has agreed to pay more than $138,000 to settle regulators’ allegations that he engaged in insider trading to avoid losses as the energy company angled toward bankruptcy in 2008.

On Friday, the U.S. Securities and Exchange Commission asked Judge Terence Kern of the U.S. District Court for the Northern District of Oklahoma to authorize the agreement settling claims that, as vice president of financial services at SemGroup, Spaugy unloaded thousands of shares on insider knowledge that the company faced...
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