SEC v. Well Advantage Limited, et al., Civil Action 12-CV-5786 (SDNY)(RJS)

Hong Kong Firm to Pay $14 Million to Settle Insider Trading Charges

Hong Kong Firm to Pay $14 Million to Settle Insider Trading Charges

On October 18, 2012, the Securities and Exchange Commission announced that a Hong Kong-based firm charged with insider trading in July has agreed to settle the case by paying more than $14 million, which is double the amount of its alleged illicit profits. The proposed settlement is subject to the approval of Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York.

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Reference Info:Federal, Federal Circuit | United States

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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