Schottenfeld Trader Settles SEC Claims In Galleon Suit

Law360, New York (June 29, 2011, 6:09 PM EDT) -- David Plate, a Schottenfeld Group LLC trader who pled guilty in connection with the insider trading scheme perpetrated under convicted Galleon Group LLC founder Raj Rajaratnam, agreed Tuesday to disgorge $53,000 to settle U.S. Securities and Exchange Commission allegations in New York.

Plate, who pled guilty last July to conspiracy and securities fraud charges as part of the widespread probe centered on insider trading at the Galleon hedge funds, allegedly traded on inside information about acquisitions involving companies including Kronos Inc., 3Com Corp. and Axcan Pharma...
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