SEC Sues Swiss Man Over Illicit Trading In GSK Deal

Law360, New York (June 9, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has filed a complaint against a Swiss national, alleging that he schemed to trade on insider knowledge of GlaxoSkithKline PLC's $566 million takeover of Minnesota-based CNS Inc.

The SEC said Monday it had filed a first amended complaint in the U.S. District Court for the Eastern District of Pennsylvania against Lorenz Kohler and Swiss Real Estate International Holding AG — a shell company through which Kohler made illicit trades.

Kohler, of Mels, Switzerland, is accused of purchasing out-of-the-money call options...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.