Friends Of Dick's Exec Settle Insider Trading Claims

Law360, New York (August 11, 2009, 1:26 PM EDT) -- Two friends of a Dick's Sporting Goods Inc. executive have been ordered to pay about $644,000 to settle allegations that they relied on inside information to buy shares of Galyan's Trading Co. just before it was acquired by Dick's.

In a final judgment by default entered Monday, the U.S. District Court for the Western District of Pennsylvania found Gary M. Gosson liable for disgorgement of more than $47,000 — representing the profits he gained as a result of the insider trading — as well as prejudgment...
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.