Law firm to pay $92,000 in 'insider trading' suit

A New Jersey patent law firm agreed Wednesday to pay about $92,000 to settle a Securities and Exchange Commission suit that had accused it of using inside information to make money in the stock market.

This was the first suit the SEC had filed against a law firm for "insider trading," a commission spokesman said.

The agreement by the firm of Lerner, David, Littenberg & Samuel of Westfield, N.J., follows two insider-trading court actions last month one decided by the US Supreme Court.

Wednesday's settlement, in which neither the firm nor the six co-defendants admitted or denied guilt, is the latest in some 20 SEC enforcement actions on the issue within a year.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK