Law360, New York (August 04, 2011, 1:25 PM ET) -- A federal judge in Connecticut on Tuesday ordered investor Gary Richetelli to pay $1 million for illegally obtaining stock in NewAlliance Bancshares Inc.'s 2004 initial public offering.
Richetelli — who allegedly capitalized on the conversion of New Haven Savings Bank from a mutual form of organization to a stock form of organization as NewAlliance — consented to the final judgment to end a U.S. Securities and Exchange Commission suit brought against him in 2009. The payment constitutes a $900,000 disgorgement and a $100,000 civil penalty....
NewAlliance IPO Investor Hit With $1M Penalty
To view the full article, take a free trial now.
