UK Investors Get 'Cold Shoulder' For Share-Buying Plot

Law360, New York (July 14, 2010, 5:22 PM EDT) -- In a rare move, the U.K.'s merger regulator on Wednesday banned three investors, including the former chief of an investment trust, from working on mergers and acquisitions-related activities for three years, ruling that they had run afoul of British finance rules.

The U.K. Takeover Appeal Board upheld the so-called cold shoulder punishment for Brian Myerson, the former CEO of Principle Capital Investment Trust PLC, as well as fellow executive Brian Padgett and outside investor Daniel Posen.

The decision by the U.K. Takeover Panel's appellate body marked...
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