Fraud & Scandals

SEC Charges Corporate Insider and His Friend with Insider Trading

14/8/2019/US SEC On August 12, 2019, the Securities and Exchange Commission charged Harsh Nahata, a former WestRock Corporation employee, and his friend, Ajay S. Bhandari, with trading ahead of the announcement of WestRock’s acquisition of KapStone Paper and Packaging Corporation, on the basis of material, nonpublic information that Nahata obtained […]

SEC Wins Jury Trial Against Broker Charged with Insider Trading

14/8/2019/US SEC Today, jurors in Atlanta federal court returned a verdict finding New Jersey securities broker Raymond J. Pirrello, Jr. liable for insider trading in advance of three merger and acquisition transactions. The SEC’s evidence at trial showed that Pirrello received highly confidential nonpublic information about the impending acquisitions of Radiant Systems Inc., Midas […]