Hefner Kin Settles Playboy Insider Trading Suit

Law360, New York (August 3, 2011, 3:31 PM EDT) -- The son-in-law of Playboy Enterprises Inc. founder Hugh Hefner on Wednesday agreed to pay more than $168,000 to settle claims in Illinois federal court that he traded in the company's stock based on inside information, including a failed sale of the iconic company.

The U.S. Securities and Exchange Commission alleged that William A. Marovitz, the husband of former Playboy CEO Christie Hefner, garnered profits and avoided losses of more than $100,000 based on information from his wife.

All of Marovitz's trades, which took place from 2004...
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