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...
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