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Monster Energy Attorney Settles SEC's Insider Trading Claims

Law360 (February 8, 2019, 9:08 PM EST) -- The U.S. Securities and Exchange Commission announced Friday that Daniel Callahan, who served as outside counsel to Monster Beverage Corp., has agreed to pay about $42,000 to settle allegations he traded on nonpublic information about an upcoming partnership with Coca-Cola Co.

The agreement ends claims that Callahan, the founding partner of Callahan & Blaine, made about $20,000 in profits by purchasing 850 shares of Monster before the company announced a partnership with Coke, at which point Monster’s stock surged about 30 percent. Callahan agreed to disgorge his profits, plus interest, and pay a nearly $20,000 fine.

“As an attorney, Callahan owes...

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