Hedge Fund News From HedgeCo.Net

SEC: Traders Agree To Pay More Than $920,000 To Settle Insider Trading Case

December 30, 2015 : Permanent Link

(HITC Business) The Securities and Exchange Commission has announced that two traders in China and Hong Kong have agreed to pay more than$920,000 to settle an insider trading case against them. Cousins and business associates Zhichen Zhou and Yannan Liu, whose assets were frozen by an emergency court order when the SEC’s complaint was filed against them last month, must disgorge their entire ill-gotten profits of $306,929.59 plus pay penalties of $306,929.59 each. The court approved the settlement today. The SEC’s complaint alleged that Zhou and Liu traded two health care company stocks (MedAssets and Chindex International) based on nonpublic information about their impending acquisitions by private equity firms….

To read this article:

This entry was posted in Syndicated, Uncategorized. Bookmark the permalink.

Leave a Reply

Recent Posts

  1. Stock futures fall after Meta Platforms, IBM report quarterly results: Live updates
  2. Meta loses $200 billion in value as Zuckerberg focuses earnings call on all the ways company bleeds cash
  3. IBM to acquire HashiCorp in $6.4 billion deal, reports another revenue miss
  4. JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank
  5. Rubrik prices IPO at $32 per share, above the expected range

Search


Categories