Ex-SeaWorld Lawyer To Shell Out $65,000 For Insider Trading

Law360 (March 27, 2019, 10:48 PM EDT) -- A former lawyer for SeaWorld Entertainment Inc. pled guilty to insider trading and promised to pay back $65,000 he earned on illegal sales of shares in the marine-themed amusement park company, according to documents entered Tuesday in Florida federal court.

Paul Bannon Powers, SeaWorld's onetime associate general counsel and assistant secretary, admitted he used his knowledge of nonpublic information about SeaWorld's finances to make highly profitable stock trades, despite being explicitly barred from trading company shares outside narrow "window periods."

In late July and early August, outside of the window period and without the required authorization from his higher-ups, Powers liquidated all...

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