Farmer Fined For Insider Trading In Bank Merger

Law360, New York (October 8, 2007, 12:00 AM EDT) -- Insider-trading charges against a Texas ranch owner who allegedly bought stock in Commercial Federal Corp. ahead of a merger announcement have been settled for $70,000, the U.S. Securities and Exchange Commission said.

Powell Calder, the brother-in-law of the assistant to Commercial Federal's CEO, agreed to relinquish his profits and pay a fine to resolve claims that he traded in the bank's stock on a confidential tip, the SEC said.

The regulator's complaint, filed in the U.S. District Court for the District of Columbia on Thursday, alleges...
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