Dick's Sporting Exec Hit With Insider Trading Suit

Law360, New York (October 1, 2008, 12:00 AM EDT) -- The Securities and Exchange Commission Tuesday accused a senior executive of Dick’s Sporting Goods Inc. of insider trading and charged a collection of friends who acted on his tip with illegally trading the stock of a company Dick's acquired.

Joseph J. Queri Jr., the Senior Vice President of Real Estate at Dick’s, misappropriated material, nonpublic information when he tipped off his close friend, defendant Gary M. Gosson, about the company’s plans to buy Galyan’s Trading Company Inc., the agency said.

After receiving news about the deal,...
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