March 4, 2008
SEC Files Insider Trading Charges Involving Synergetics-Valley Forge Merger
The SEC settled an insider trading action against Stanley Manne, for engaging in unlawful insider trading in the securities of Valley Forge Scientific, Inc. ("Valley Forge"), which was located in Oaks, Pennsylvania. The complaint alleges that the defendant, a retired business owner, purchased securities of Valley Forge on the basis of material nonpublic information concerning a merger between Valley Forge and Synergetics, Inc. Without admitting or denying the allegations of the complaint, Manne has consented to the entry of a final judgment permanently enjoining him from engaging in the alleged violations and ordering him to pay disgorgement of $85,601, plus prejudgment interest of $13,315, and a civil penalty of $85,601.
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