SEC Pays $1M Award For Pequot Insider Trading Tip

Law360, New York (July 23, 2010, 6:26 PM EDT) -- The U.S. Securities and Exchange Commission on Friday awarded $1 million to the ex-wife of a Microsoft Corp. employee and her current husband for helping to reopen an insider trading suit against Pequot Capital Management Inc. involving Microsoft stock.

Glen and Karen Kaiser of Southbury, Conn., received the highest insider trading tip award ever for providing information that led the SEC to reopen a case that had been closed for two years and was the subject of a congressional inquiry.

Pequot and its CEO and chairman,...
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