Ex-Evergreen Exec Settles SEC Insider Trading Claims

Law360, New York (January 21, 2010, 12:39 PM EST) -- A former executive at Evergreen Investment Management Co. has reached a settlement with the U.S. Securities and Exchange Commission over allegations that he used inside information to ditch mortgage-backed securities-heavy investments in time to avoid losses.

Charles J. Marquardt, former chief administrative officer for operations at the Boston-based asset manager, agreed to pay about $40,000 to settle the insider trading claims, the SEC announced Wednesday in filings with the U.S. District Court for the District of Massachusetts.

As part of the settlement, Marquardt has neither admitted...
To view the full article, register now.