SEC alleges insider trading in IBM-SPSS deal
Posted: Thu Nov 29, 2012 12:02 pmSEC alleges insider trading in IBM-SPSS deal
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - Two retail brokers were charged Thursday by the Securities and Exchange Commission with insider trading ahead of IBM Corp.'s acquisition of SPSS Inc. in 2009. The SEC alleges that Thomas Conradt learned confidential details about the merger from his roommate, a research analyst who allegedly received the information from an attorney working on the transaction. Conradt purchased SPSS securities and allegedly tipped his friend and fellow broker David Weishaus, who also traded on it, the SEC alleged.
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - Two retail brokers were charged Thursday by the Securities and Exchange Commission with insider trading ahead of IBM Corp.'s acquisition of SPSS Inc. in 2009. The SEC alleges that Thomas Conradt learned confidential details about the merger from his roommate, a research analyst who allegedly received the information from an attorney working on the transaction. Conradt purchased SPSS securities and allegedly tipped his friend and fellow broker David Weishaus, who also traded on it, the SEC alleged.