SEC, Fund Execs Strike Deal Over $68M Insider Trading Plot

Law360, New York (June 11, 2013, 12:22 PM EDT) -- The U.S. Securities and Exchange Commission has reached a tentative settlement in New York federal court with convicted hedge fund executives Anthony Chiasson and Todd Newman over an alleged $68 million insider trading scheme involving shares of Dell Inc. and Nvidia Corp., the agency said Monday.

Chiasson, a founder of Level Global Investors LP, and Newman, a former portfolio manager at Diamondback Capital Management LLC, were convicted in December and sentenced in May to 78 months and 54 months in prison, respectively. The SEC, which filed...
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