Former JP Morgan Banker Twice Convicted of Insider Trading (InternationalInvestment.net)
A former JP Morgan and Wall Street investment banker has been convicted for the second time on a charge of insider trading. A federal jury in New York convicted Sean Stewart of securities fraud and conspiracy, three years after he illegally tipped off his father, enabling him to trade on the back of health care merger deals in the US. Sean Stewart on Monday was again convicted of insider trading over a purported scheme to leak confidential information about health care company mergers for his father to trade on. More than three years after Sean Stewart first stood trial on charges stemming from his purported illegal tipping off of his father, Robert Stewart, about health care industry deals he was again found guilty of securities fraud and conspiracy. Both Sean Stewart and his father pleaded guilty.
Aldeyra Therapeutics Inc (ALDX) President and CEO Todd C Brady Bought $50,431 of Shares (Guru Focus)
President and CEO of Aldeyra Therapeutics Inc., Todd C Brady, bought 8,680 shares of ALDX on 09/23/2019 at an average price of $5.81 a share. The total cost of this purchase was $50,431. Aldeyra Therapeutics Inc is biotechnology company focused on the development of products for inflammation, inborn errors of metabolism, and other diseases, related to endogenously generated toxic and pro-inflammatory chemical species known as aldehydes.
U.S. SEC Settles Potato Chip Insider Trading Case (Reuters)
(Reuters) – Four Alabama men agreed to settle U.S. Securities and Exchange Commission charges of insider trading related to the 2016 merger of the makers of Utz and Golden Flake potato chips, the regulator said on Tuesday. The SEC said Birmingham real estate developer James Nall III had learned about privately-held Utz Quality Foods LLC’s planned purchase of Golden Enterprises Inc from his father, a longtime Golden director.
A Director at RH (NYSE: RH) is Selling Shares (Analyst Ratings)
Yesterday, a Director at RH (RH), Kathleen Mitic, sold shares of RH for $1.18M. Following Kathleen Mitic’s last RH Sell transaction on June 30, 2014, the stock climbed by 75.6%. This is Mitic’s first transaction since reporting a Sell transaction on EBAY back in May 2017.
Comscore Inc. and Former CEO Charged with Accounting and Disclosure Fraud (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged global information and media analytics firm, Comscore, Inc., and its former CEO with engaging in a fraudulent scheme to overstate revenue by approximately $50 million and making false and misleading statements about key performance metrics. The SEC’s orders find, among other things, that from February 2014 through February 2016, Comscore, at the direction of its former CEO Serge Matta, entered into non-monetary transactions for the purpose of improperly increasing its reported revenue. Through these transactions, Comscore and a counterparty would negotiate and agree to exchange sets of data without any cash consideration.
