Jury Clears Chinese Adviser On SEC Insider Trading Claims

Law360, Chicago (January 14, 2014, 6:39 PM EST) -- An Illinois federal jury on Monday cleared Chinese investment adviser Siming Yang on insider trading claims brought by the U.S. Securities and Exchange Commission, but did find Yang liable for other violations, including making false disclosures to the regulator.

Following a six-day trial in Chicago, the jury returned the mixed verdict after several hours of deliberations, finding in favor of Yang and his investment firm, Prestige Trade Investments Ltd., on the SEC’s allegations that they had used inside knowledge about the 2012 management-led buyout of Chinese...
To view the full article, register now.