SEC Hits Perot Investor With Insider Trading Suit

Law360, New York (September 24, 2009, 6:58 PM EDT) -- The U.S. Securities and Exchange Commission is suing Perot Investments Inc.'s Reza Saleh for insider trading after he netted more than $8.6 million investing in Perot Systems Corp. ahead of a $3.9 billion buyout offer from Dell Inc.

In a complaint filed Wednesday in U.S. District Court for the Northern District of Texas, the SEC said Saleh made extremely large and profitable purchases of call option contracts for Perot Systems stock based on nonpublic information.

The agency is seeking court orders for Saleh to disgorge all...
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