Monday, April 4, 2005

Keeping It In the Family

The SEC filed a complaint in the U.S. District Court for the Northern District of California (San Francisco) alleging that Anthony Sudol, a former employee of Cisco Systems Inc., tipped his two brothers (Michael and Richard), about five companies Cisco intended to acquire before the information was publicly disclosed.  The SEC alleges (complaint here) that the brothers made profits of more than $400,000 and details their trading in the companies to be acquired by Cisco. (ph)

Insider Trading | Permalink

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