Ex-Taro Exec, Son Hit With Penalties In SEC Case

Law360, New York (November 24, 2009, 6:57 PM EST) -- A magistrate judge has smacked former Taro Pharmaceuticals Ltd. executive Zvi Rosenthal and his attorney son Amir with millions of dollars in civil penalties for their alleged roles in a insider trading scheme involving Taro stock.

However, the court declined the U.S. Securities and Exchange Commission's request to make Zvi and Amir pay three times the profit they allegedly gleaned from the scheme.

Magistrate Judge Frank Maas of the U.S. District Court for the Southern District of New York issued a 64-page memorandum decision and order...
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