Former Flextronics Exec Exits SEC Suit Over Insider Tips

Law360, New York (February 24, 2012, 5:55 PM EST) -- A former Flextronics International Ltd. employee who pled guilty last year to selling his company and clients’ private information to expert networking firms and hedge funds agreed Friday to pay more than $50,000 to resolve the U.S. Securities and Exchange Commission’s companion civil case.

Walter Shimoon, who is still awaiting sentencing after copping to conspiracy and securities fraud charges in July, consented to pay back the money he made from passing tips to networking firms Primary Global Research LLC and Broadband Research LLC, according to a...
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