Final Judgment Handed Down Against Investment Banking Analyst for Insider Trading (HedgeCo.Net)
(HedgeCo.Net) Bill Tsai, then a junior analyst in the New York office of a large international investment bank, learned through his work for the bank that Siris Capital Group was planning to acquire Electronics for Imaging, Inc. (EFII). Soon after learning about the deal, Tsai purchased EFII call options, which he sold for a profit of approximately $98,750 shortly after the deal was announced in mid-April 2019. Tsai agreed to settle with the SEC and consented to the entry of a judgment permanently enjoining him from violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and ordering him liable to pay disgorgement of his ill-gotten trading profits, with interest, which will be offset by the amount of any forfeiture ordered against Tsai in a parallel criminal action.
Whistle-Blowers Should Fear Insider-Trade Ruling, Defendants Say (Bloomberg)
Two former Deerfield Management Co. partners convicted of insider trading with secret government information asked a U.S. appeals court to reconsider a ruling they claim threatens whistleblowers and good-government advocates who disclose wrongdoing by officials. Robert Olan and Theodore Huber, who traded health-industry stocks on the tips they got about Medicare reimbursement rates, on Monday asked the full federal appeals court in Manhattan to reconsider an earlier ruling by a three-judge panel, citing the “extraordinary consequences” if it’s not reversed.
Coca-cola Co (KO) President and COO Brian John Smith Sold $1.9 million of Shares (Guru Focus)
President and COO of Coca-cola Co., Brian John Smith, sold 32,808 shares of KO on 01/30/2020 at an average price of $58 a share. The total sale was $1.9 million. Coca-Cola Co is nonalcoholic beverage company which manufactures a variety of carbonated and noncarbonated brands, including Coca-Cola, Diet Coke, Fanta, Sprite, Minute Maid, Powerade, and Dasani. Coca-Cola Co has a market cap of $251.79 billion; its shares were traded at around $58.83 with a P/E ratio of 28.43 and P/S ratio of 6.94.
Tuesday 2/4 Insider Buying Report: EPD, SMPL (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys. On Monday, Enterprise Products Partners’ Co-Chief Executive Officer, AJ Teague, made a $510,102 purchase of EPD, buying 20,031 shares at a cost of $25.47 a piece. So far Teague is in the green, up about 2.1% on their buy based on today’s trading high of $26.00. Enterprise Products Partners L.P. is trading up about 2.4% on the day Tuesday.
A Director at Cerus (NASDAQ: CERS) is Buying Shares (Analyst Ratings)
Yesterday, a Director at Cerus (CERS), Timothy Anderson, bought shares of CERS for $40K. This recent transaction increases Timothy Anderson’s holding in the company by 5.42% to a total of $802.5K. In addition to Timothy Anderson, 4 other CERS executives reported Buy trades in the last month.
