The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:An Old MF Insider Trading Case is Resurrected Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, July 26, 2013

An Old MF Insider Trading Case is Resurrected

News summary by MFWire's editors

A federal judge must now consider a decade old case regarding insider trading in a mutual fund, Courthouse News' Joseph Celentino reports.

When the SEC charged Heartland Advisors [profile] and several of its personnel with insider trading, all the defendants except one,Jilaine Bauer, entered into settlement agreements.

Bauer worked as Heartland's general counsel and chief compliance officer. On insider trading, the SEC won summary judgement against her and dismissed the other charges.

Celentino reports that the 7th Circuit remanded the case for further proceedings. In a 38-page opinion, the court declared that Bauer is entitled to a trial on the question of whether the categories of public information she had access to were "material" for the purposes of the insider trading statute.

U.S. District Judge James Zagel said the case was unusual, according to Celentino, who quotes him as saying, "It is one of few instances in which the SEC has brought insider trading claims in connection with a mutual fund redemption. No federal court has opined the applicability of insider trading prohibitions to the trade of mutual fund shares."

To read more, click here.  

Edited by: Casey Quinlan

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use