Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, April 27, 2007

Frist Not Charged in HCA Stock Sales

The DOJ and the SEC notified former Senate majority leader Bill Frist that they have concluded their 18-month investigation into his 2005 sales of HCA stock (a chain of hospitals started by Frist and his brother) shortly before a drop in the stock price and will not bring insider trading charges.  Frist maintained that the sales were made to eliminate any appearance of conflict of interest. See WPost, Frist Not Charged as Investigators Close Probe of His Hospital Stock Sales.

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