Former Oil Exec Settles SEC Insider Trading Case

Law360, New York (May 11, 2012, 6:32 PM EDT) -- The former CEO of California-based oil and gas production company Tri-Valley Corp. settled with the U.S. Securities and Exchange Commission on Friday over allegations that he liquidated his stock in the company to avoid losses he anticipated based on confidential information.

Frank Lynn Blystone agreed to pay a $75,000 fine and will not serve as an officer or director of a public company, according to an agreement resolving claims by the SEC that he dumped the majority of his stock in Tri-Valley the day before the firm...
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