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SEC Sues Swiss Man Over Illicit Trading In GSK Deal

Law360 (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...
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