Thai Nat'l Pays $5.2M To End Smithfield Insider Tips Case

Law360, New York (September 5, 2013, 12:56 PM EDT) -- The U.S. Securities and Exchange Commission has reached a $5.2 million settlement with a Thai national accused of trading on inside information ahead of Smithfield Foods Inc.'s proposed $7.1 billion sale to a Chinese meat company, sources close to the settlement told Law360.

The SEC accused Bangkok resident Badin Rungruangnavarat in a June complaint of making a $3 million profit by purchasing thousands of Smithfield call options and single-stock futures contracts between May 21 and May 28 after receiving inside information about the potential deal....
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