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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.