SEC Hits Ex-Carter's Inc. VP With Insider Trading Suit

Law360, New York (March 7, 2014, 3:13 PM EST) -- The U.S. Securities and Exchange Commission filed a lawsuit Friday in Georgia federal court accusing a former high-ranking executive at children's clothing company Carter's Inc. of insider trading and tipping violations.

According to the suit, Richard T. Posey was able to generate $49,778 in profits and avoided losses between 2006 and 2010 by repeatedly sharing embargoed information about Carter's finances with traders prior to the release of quarterly earnings reports. Posey served as vice president of operations for Carter's from July 2002 until he was fired...
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