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....
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.