Physicians To Pay $1.9M To Settle Insider Trading Claims

Law360, Los Angeles (July 10, 2012, 3:43 PM EDT) -- The chairman of Michigan-based health care liability insurance provider American Physicians Capital Inc. and four other physicians have agreed to pay $1.9 million to settle insider trading allegations related to the company's $386 million acquisition by private insurer The Doctors Co., regulators said Tuesday.

The U.S. Securities and Exchange Commission accused ACAP Chairman Apparao Mukkamala of disseminating nonpublic information about the pending sale to family members and friends who illegally purchased nearly $2.2 million in company stock in the months leading up to its purchase by...
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