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Ex-Broker-Dealer Execs Settle Short-Selling Charges

Law360 (July 30, 2008, 12:00 AM EDT) -- Two former executives from defunct broker-dealer D.L. Cromwell Investments Inc. who were sentenced to probation for an alleged scheme to short-sell Expedia Inc. stock have settled civil charges arising from the case.

David S. Davidson, Cromwell's former chairman and chief executive officer, and Lloyd S. Beirne, former company president, consented to a final judgment entered Friday in the U.S. District Court for the Eastern District of Pennsylvania prohibiting them from violating federal securities laws.

The two men consented to the orders without admitting or denying the...
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