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Fund Manager Settles Insider Trading Case With SEC

Law360 (August 2, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission reached a settlement Wednesday with a former portfolio manager of U.S. Bancorp Asset Management Inc. who allegedly traded on inside information he received from his brother, an associate medical director at Genentech Inc.

The the civil suit, filed Wednesday in the U.S. District Court for the Eastern District of Wisconsin, accused Joseph A. Frohna of insider trading. He also settled the case Wednesday, agreeing to a permanent injunction against violating securities laws.

Frohna will also pay the $954,776 the company...
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