Saturday, March 3, 2007
Is it insider trading or just good reading of the tea leaves? The SEC announced that it froze $5.3 million in profits from trading in TXU options a few days before the Feb. 26 announcement of the TXU buyout. The money is held in accounts of several large brokerage firms. See NYTimes, U.S. Is Investigating Trades Made Just Before TXU Deal and WSJ, TXU Trading Ahead of Deal Is Scrutinized.