Lanexa Consents To Pay Disgorgement Over Galleon Scheme

Law360, New York (March 20, 2012, 2:17 PM EDT) -- Lanexa Management LLC has agreed to disgorge profits made by its managing director Thomas C. Hardin's alleged insider trading connected to the Galleon Group LLC insider trading ring, the U.S. Securities and Exchange Commission announced Monday.

While neither admitting nor denying the SEC's allegations, Lanexa consented to the judgment entered by U.S. District Judge Richard J. Sullivan on Mar. 16 ordering disgorgement of $746,797 — $612,190 in profits and $134,607 in interest.

The SEC accused Hardin of insider trading on behalf of a Lanexa hedge fund...
To view the full article, register now.