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EXCHANGE COMMISSION RELEASE/ContentWorks via COMTEX) --
The Securities and Exchange Commission today filed settled insider trading charges against four individuals--John A. Foley, Aaron M. Grassian, Timothy L. Vernier, and Bradley S. Hale--for their respective roles in an alleged pattern of insider trading and tipping in the securities of four public companies over a 22-month period that yielded illegal profits totaling $210,580.62. The four public companies involved are Crocs, Inc., YRC Worldwide, Inc., Spectralink Corporation and SigmaTel, Inc. All four defendants have agreed to settle the Commission's charges without admitting or denying the allegations in the Commission's Complaint, and their settlement papers have been submitted to the Court for its consideration. Separately, a fifth individual, Tara R. Eisler, was named in a related administrative proceeding instituted and simultaneously settled today.
According to the Complaint, which was filed in federal court in the District of Columbia, Foley served as an employee benefits specialist at Deloitte between July 2005 and May 2007, and learned, through his work on Deloitte client engagements, material, non-public information concerning (i) Crocs' first earnings release after going public; (ii) a potential acquisition of YRC by a third party (that ultimately was not consummated); and (iii) the acquisition of Spectralink, via tender offer, by another public company.
ENFORCEMENT PROCEEDINGS - SEC Files Settled Insider Trading Charges Against Former Deloitte Tax Professional and Three Others; R | TradingMarkets.com
Wonder how close we were to being sold????
The Securities and Exchange Commission today filed settled insider trading charges against four individuals--John A. Foley, Aaron M. Grassian, Timothy L. Vernier, and Bradley S. Hale--for their respective roles in an alleged pattern of insider trading and tipping in the securities of four public companies over a 22-month period that yielded illegal profits totaling $210,580.62. The four public companies involved are Crocs, Inc., YRC Worldwide, Inc., Spectralink Corporation and SigmaTel, Inc. All four defendants have agreed to settle the Commission's charges without admitting or denying the allegations in the Commission's Complaint, and their settlement papers have been submitted to the Court for its consideration. Separately, a fifth individual, Tara R. Eisler, was named in a related administrative proceeding instituted and simultaneously settled today.
According to the Complaint, which was filed in federal court in the District of Columbia, Foley served as an employee benefits specialist at Deloitte between July 2005 and May 2007, and learned, through his work on Deloitte client engagements, material, non-public information concerning (i) Crocs' first earnings release after going public; (ii) a potential acquisition of YRC by a third party (that ultimately was not consummated); and (iii) the acquisition of Spectralink, via tender offer, by another public company.
ENFORCEMENT PROCEEDINGS - SEC Files Settled Insider Trading Charges Against Former Deloitte Tax Professional and Three Others; R | TradingMarkets.com
Wonder how close we were to being sold????