SEC Probing Insider-Trading In Corporate Takeovers

Law360, New York (October 18, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has stepped up its investigations into insider-trading by hedge funds and private equity firms over the past few months, launching several new probes into allegations of illegal activity in corporate takeovers, SEC Chairman Christopher Cox said on Wednesday.

Cox told reporters that corporate takeovers continue to grab the agency’s attention, with the Commission looking into several high profile deals, including the GlaxoSmithKline PLC takeover of CNS Inc. and Barrick Gold Corp’s bid for Placer Dome Inc.

"That is an increasing...
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