Ex-LendingTree Exec Settles Insider Trading Charges

Law360, New York (November 21, 2006, 12:00 AM EST) -- A former executive of online mortgage lending broker LendingTree has settled an insider trading suit brought by the U.S. Securities and Exchange Commission, agreeing to pay $219,000.

The settlement also bars former senior vice president David N. Anderson from ever again serving as an officer or director of a public company.

The allegations against Anderson stem from a 2003 deal between LendingTree and fellow online broker USA Interactive, owned by billionaire Barry Diller. Under the agreement, USA Interactive would acquire the mortgage broker at a premium...
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