Ex-Fund Manager Settles SEC Insider Trading Case

Law360, New York (January 22, 2010, 3:09 PM EST) -- A former mutual fund manager for Massachusetts Financial Services Co. who was found liable in June for insider trading has agreed to pay the U.S. Securities and Exchange Commission a $460,000 civil penalty and submit to an injunction.

Steven E. Nothern and the SEC filed a joint motion Thursday asking the U.S. District Court for the District of Massachusetts to enter final judgment, about seven months after a federal jury found he had traded on inside information about 30-year Treasury bonds.

Nothern, formerly senior vice president...
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