Denver Insider Trading Trio To Pay $5M In Deal With SEC

Law360, New York (June 4, 2012, 6:50 PM EDT) -- The U.S. Securities and Exchange Commission on Friday reached a $5 million settlement in its suit against three Denver businessmen convicted of insider trading ahead of Mariner Energy Inc.'s $2.7 billion sale to Apache Corp.

U.S. District Judge Robert P. Patterson approved the fines, which targeted the profits of H. Clayton Peterson, his son Drew Peterson and their friend Drew “Bo” Brownstein, who were convicted for their roles in a week of trading before the April 2010 sale of Mariner, a Houston-based oil and gas exploration...
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