August 19, 2005
More Reebok Action
The SEC reports here of eight (8) more being charged with insider trading. The press release states:
"In a second emergency action alleging insider trading in the securities of Reebok International Ltd. (Reebok), the Securities and Exchange Commission today charged eight additional individuals who reaped illegal profits. The Commission has now identified more than $6 million in illicit gains related to the insider trading. The illegal trading took place in domestic and offshore brokerage accounts held by residents of the U.S., Croatia and Germany, the Commission alleged."
Not all of the individuals are from the U.S. as the list includes some from Croatia and Germany. We previously reported on SEC action regarding Reebok here.
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