Community Bancorp Head Settles Insider Trading Suit

Law360, New York (April 29, 2008, 12:00 AM EDT) -- A former director of Community Bancorp and his son have agreed to pay over $100,000 to settle the U.S. Securities and Exchange Commission's civil suit accusing them of trading on insider information in the days leading up to the bank's acquisition of Valley Bancorp.

Former Community Bancorp Director Charles Norton and his son Chad Norton have agreed to disgorge $38,433.72 in illegal trading profits and to each pay a civil penalty of $35,064.71 to settle allegations that they misused confidential information about the merger, the SEC...
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