Ex-FrontPoint Trader Ends $30M SEC Insider Trading Suit

Law360, New York (August 10, 2011, 8:27 PM EDT) -- The U.S. Securities and Exchange Commission said Wednesday that it had settled its $30 million pharmaceutical stock insider trading suit in New York against ex-FrontPoint Partners LLC trader Joseph Skowron, though the criminal case against him continues.

"Defendant and the staff of the SEC's Division of Enforcement have now agreed in principle to terms of a settlement” that would “fully resolve the SEC's claims,” the commission said in a court filing it made jointly with Skowron's attorneys.

The SEC asked U.S. District Judge Deborah A. Batts...
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