Ex-Taro Exec In Contempt Over $2M Insider Trading Fine

Law360, New York (July 28, 2011, 4:13 PM EDT) -- A New York federal judge on Monday held an ex-Taro Pharmaceuticals Industries Ltd. executive currently jailed for insider trading in contempt for failing to pay a $2 million final judgment in a related U.S. Securities and Exchange Commission suit against him.

U.S. District Judge Frank Maas also rejected bids by the executive, Zvi Rosenthal, and his sons to dismiss most of the new insider trading and relief claims against them the SEC lodged in a second amended complaint following the initial final judgment in January 2010,...
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