Exec To Pay $3M In Insider Trading Settlement

Law360, New York (January 23, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has settled an action against a former director of OrthoClear Holdings Inc., who allegedly reaped illegal profits using confidential knowledge of a patent lawsuit settlement between OrthoClear and another company.

Saiyed Atiq Raza, 58, of Palo Alto, Calif., is also a former president of Advanced Micro Devices, which is not a party in the case.

Raza did not admit or deny the allegations but agreed to pay nearly $3 million to disgorge ill-gotten gains and penalties, the SEC said on...
To view the full article, register now.