2 Nabbed For Insider Trading On Exxon-XTO Deal

Law360, New York (September 24, 2010, 6:51 PM EDT) -- Two Texas residents have been charged with illegally reaping hundreds of thousands of dollars from Exxon Mobil Corp.'s $41 billion acquisition of XTO Energy Inc. after they purchased shares in the natural gas producer ahead of the merger using inside information.

Fort Worth residents Michael Jobe and Richard Vlasich violated federal securities laws when they engaged in insider trading the week before Exxon’s Dec. 14, 2009, announcement that it would snap up XTO, the U.S. Securities and Exchange Commission alleges in a complaint filed Friday in...
To view the full article, register now.