Former J.Crew Exec Settles SEC Insider Trading Suit

Law360, New York (October 25, 2012, 1:22 PM EDT) -- A former J.Crew Group Inc. executive has agreed to pay $128,000 to settle claims by the U.S. Securities and Exchange Commission that he used inside knowledge of the retailer's finances to make illegal stock trades, the agency said Thursday.

The SEC filed and settled a suit alleging Frank LoBue, 43, took advantage of his role as J.Crew’s director of store operations on two occasions in 2009 by purchasing the company’s stock prior to the release of better-than-expected earnings reports.

LoBue, a resident of Hoboken, N.J., purchased...
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