SEC Accuses Ex-Carter's Exec Of Insider Trading

Law360, New York (December 20, 2010, 6:08 PM EST) -- The U.S. Securities and Exchange Commission has accused a former Carter's Inc. sales executive of committing fraud and insider trading by misrepresenting the amount of discounts the children's clothing company granted a retailer.

The SEC filed the complaint Monday in the U.S. District Court for the Northern District of Georgia against Joseph M. Elles, 55, who served as executive vice president of sales for Atlanta-based Carter's until he was fired in March 2009.

The regulator claims Elles would offer large discounts to Kohl's Corp. in order...
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