Hedge Fund and Insider Trading News: Ken Griffin, Daniel Loeb, Leon Cooperman, PepsiCo, Inc. (PEP), York Water Co (YORW), and More

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Ex-Perella Banker Convicted in Insider Case — in 65 Minutes (2) (Bloomberg Law)
Former Perella Weinberg Partners LP managing director Sean Stewart was convicted of insider trading, the second time a federal jury has found the banker guilty and a win for prosecutors after losing their smoking gun. The case was as much family tragedy as courtroom drama. Stewart was accused of leaking information on five health-care mergers to his father. While he never got any of the profit, his father and two associates raked in $1.1 million from trading on the tips they received from 2011 to 2014, prosecutors said. Stewart’s father got probation after pleading guilty.

SodaStream Exec Arrested on Insider Information Suspicions (Globes.co.il)
A close associate used information from a senior executive about the imminent acquisition by PepsiCo to buy shares in the Israeli carbonated drinks company. The Israel Securities Authority is investigating a senior executive of carbonated drinks manufacturer Sodastream International Ltd. on suspicion of committing insider trading violations regarding the home carbonated drinks company’s acquisition by PepsiCo Inc. A senior executive and close associate were arrested and questioned today and brought before the Tel Aviv Magistrates Court to discuss the terms of their release. Their names have not been released for publication.

A Director at The York Water Company (NASDAQ: YORW) is Selling Shares (Analyst Ratings)
Today, a Director at The York Water Company (YORW), Cynthia Dotzel, sold shares of YORW for $15.23K. This is Dotzel’s first Sell trade following 38 Buy transactions. Following Cynthia Dotzel’s last YORW Sell transaction on July 17, 2019, the stock climbed by 5.8%.

Sebi Slaps Rs 22 Crore Penalty on Aurobindo Promoters (DeccanChronicle.com)
Mumbai: Markets regulator Sebi on Monday slapped a penalty of over Rs 22 crore on Aurobindo promoter P. V. Ramprasad Reddy, his wife P. Suneela Rani and other connected entities for violating insider trading norms. The order has been issued following a probe into the trading in the scrip of Aurobindo Pharma (APL) during the period from July 2008 to March 2009 to ascertain the regulatory violation.

Inside Trades Everywhere: ANU Research (The Sydney Morning Herald)
Company directors sell shares in their firms after good news and buy after bad reports, research from the Australian National University shows, prompting claims insider trading laws need to be overhauled. The research, released exclusively to The Sydney Morning Herald and The Age, suggests directors are using their intimate knowledge of their companies to engage in so-called “contrarian” actions that are ignored by corporate investigators. But the Australian Securities and Investments Commission has cast doubt on the findings, saying no country in the world penalises directors for their use of publicly available information.

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