Ex-Hedge Fund Manager Settles Insider Trading Suit

Law360, New York (May 13, 2008, 12:00 AM EDT) -- A former hedge fund manager who pled guilty to netting $750,000 from insider knowledge of Citizens Financial Group Inc.'s 2004 acquisition of Charter One Financial Inc. has settled a civil suit with the U.S Securities and Exchange Commission, the agency said Monday.

Michael K.C. Tom agreed to disgorge approximately $650,000 and pay $150,000 in penalties to resolve charges that he bought Charter One stock for his personal account and the Global Time Capital Management hedge fund he managed after receiving a tip that Citizens was going...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.