Pequot, CEO To Pay $28M To End Insider Trading Case

Law360, New York (May 27, 2010, 5:03 PM EDT) -- Investment firm Pequot Capital Management Inc. and its chief executive officer and chairman, Arthur Samberg, have agreed to shell out nearly $28 million to resolve securities regulators’ allegations that they used insider information to trade Microsoft Corp. stock.

Bringing to a close a drawn-out case that spurred a review by Congress, the U.S. Securities and Exchange Commission said Thursday that Pequot and Samberg settled claims filed in the U.S. District Court for the District Court of Connecticut that they traded the software giant’s shares after being...
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