Musicland Investor Teo Pays $1M For Insider Trading

By James Armstrong

Law360, New York (March 16, 2010, 7:11 PM ET) -- The U.S. Securities and Exchange Commission has reached a nearly $1 million consent judgment against Alfred Teo for alleged insider trading involving Musicland Stores Corp. and C-Cube Microsystems Inc., though Teo continues to dispute the agency's claims of false filing.

Teo, who was formerly the largest single shareholder of Musicland, will pay a total of about $997,000 in disgorgement of ill-gotten gains and prejudgment interest under a consent judgment entered Monday in the U.S. District Court for the District of New Jersey.

Without admitting or denying...
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