Stiefel Crying Wolf Over Worker's $2M Win, 11th Circ. Told

Law360, New York (June 7, 2013, 5:50 PM EDT) -- The U.S. Securities and Exchange Commission urged the Eleventh Circuit on Wednesday not to accept Stiefel Laboratories Inc.'s argument that upholding an ex-worker's $1.5 million win in a fight over company stock would compel companies to disclose all preliminary merger discussions.

The SEC lodged an amicus brief with the appeals court backing Timothy Finnerty, a former Stiefel sales representative who says he was tricked into selling Stiefel shares back to the company at artificially low prices shortly before it was bought by GlaxoSmithKline PLC for more...
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