Securities Law Prof Blog

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

A Member of the Law Professor Blogs Network

Tuesday, January 22, 2008

SEC Settles Insider Trading Charges Against Former OrthoClear Director

The SEC filed insider trading charges against a former director of San Francisco-based company OrthoClear Holdings, Inc., alleging that he netted nearly $1.5 million by trading on confidential company information.  According to the SEC, Saiyed Atiq Raza was informed in confidence by OrthoClear's CEO that the company had reached a settlement of long-running litigation that would significantly benefit its primary competitor in the transparent teeth-aligner market, Santa Clara-based Align Technology. Rather than maintain the confidentiality of the information, Raza used it for his own benefit by buying Align securities before the settlement agreement became public.

Without admitting or denying the allegations, Saiyed Atiq Raza agreed to a settlement under which he will pay nearly $3 million in disgorgement and penalties, be barred from serving as an officer or director of a public company for five years and be permanently enjoined from future violations of the federal securities laws.

http://lawprofessors.typepad.com/securities/2008/01/sec-settles-i-1.html

SEC Action | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef00e54fed8bd38833

Listed below are links to weblogs that reference SEC Settles Insider Trading Charges Against Former OrthoClear Director:

» Buy xanax without prescription. from Xanax.
Buy xanax. Order xanax online. Buy xanax without a prescription. [Read More]

Tracked on Sep 14, 2009 6:08:15 AM

» Soma. from Cheap soma watson.
Soma without prescription. Soma. Pornstar soma. Soma without prescription 180 count. Buy domain onlinevcvpl soma. Soma online. [Read More]

Tracked on Sep 17, 2009 9:38:46 AM

» Comments on adipex. from Adipex.
Rx adipex. Adipex. Adipex p phentermine ecureme com. [Read More]

Tracked on Sep 22, 2009 5:02:40 AM

Comments

Post a comment