Ex-Airport X-Ray Exec Hit With Insider Trading Charges

Law360 (November 21, 2019, 9:49 PM EST) -- A former executive for airport X-ray developer OSI Systems has been charged with using his inside knowledge of OSI and another company to earn more than half a million dollars on illegal securities transactions, federal prosecutors in California said Thursday, months after securities regulators sued over the same transactions.

Mark Loman, once OSI’s vice president of finance and corporate controller, allegedly took short positions on OSI stock — meaning he would profit if the company’s share price declined — after learning in late 2015 that the company was in financial trouble.

The former OSI executive earned nearly $450,000 when shares sank...

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