SEC Sues Over Insider-Trading In Energy Merger

Law360, New York (February 7, 2007, 12:00 AM EST) -- The U.S. Securities Exchange Commission on Tuesday filed an insider-trading suit against a former director of Magnum Hunter Resources Inc., alleging the board member bought company stock before a 2005 merger with Cimarex Energy Co.

In its complaint, filed in the U.S. District Court for the Northern District of Texas, the SEC claimed that while working as audit committee chairman and a director of the oil and natural gas production company, Donald Erickson acquired 30,000 shares of MHR stock just days before the public announcement of...
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