Ex-Genesis Microchip CEO Settles Insider Trading Suit

Law360, New York (September 30, 2008, 12:00 AM EDT) -- The former chief executive of Silicon Valley technology firm Genesis Microchip Inc. and his close friend agreed Tuesday to pay penalties to settle insider trading charges brought by the Securities and Exchange Commission.

The SEC filed the complaint in the U.S. District Court for the Northern District of California, San Jose, alleging former Genesis President and CEO Elias J. Antoun acted on confidential information about an upcoming merger with Swiss semiconductor company STMicroelectronics.

The SEC alleged Antoun made trades in the accounts of a friend and...
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