SEC Settles Insider Trading Case Over Shiseido Merger

Law360, New York (February 16, 2011, 6:44 PM EST) -- The U.S. Securities and Exchange Commission on Wednesday said the brother of a former Bare Escentuals Inc. executive will pay $300,000 to settle allegations that he traded on inside information of a Shiseido Co. Ltd. takeover.

Without admitting or denying the SEC's allegations, Zhenyu Ni agreed to be enjoined from future securities law violations and to pay over $300,000 in disgorgement, interest and penalties, according to the SEC settlement filed in the U.S. District Court for the Northern District of California.

The SEC had alleged that...
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