SEC Charges Accountant and Friend in $6.2 Million Insider Trading Scheme (MENAFN.com)
(MENAFN – Newsfile Corp) SEC Charges Accountant and Friend in $6.2 Million Insider Trading Scheme. Washington, D.C.–(Newsfile Corp. – July 10, 2019) – The Securities and Exchange Commission today filed insider trading charges against an accountant and her friend, whom she illegally tipped with confidential information in advance of her company’s quarterly performance announcements in exchange for all-expense paid travel and other expensive gifts.The alleged insider trading scheme generated profits of more than $6.2 million and was uncovered by the SEC through analysis and technology that it uses to detect suspicious trading activity.
Congress Must Do More to Address Conflicts of Interest After Insider Trading Scandal (CommonDreams.com)
WASHINGTON – Note: In January 2017, Public Citizen filed a complaint against U.S. Rep. Chris Collins (R-N.Y.) alleging congressional insider trading. The 116th Congress amended its ethics rules to prohibit members from sitting on the boards of public corporations and directed the U.S. House Ethics Committee to address other potential conflicts of interest related to outside service or positions. Today, Public Citizen submitted recommendations to the committee calling for further reforms. In the wake of Collins’ insider trading scandal, the nation was stunned to discover that congressional ethics rules allowed a lawmaker to sit on the board of directors of a corporation, buy and sell stock of that company and promote legislation that could benefit the bottom line of the company and its stock holders.
Thursday 7/11 Insider Buying Report: MVC, DS (Nasdaq.com)
On Monday, MVC Capital’s Chairman, Michael T. Tokarz, made a $103,693 buy of MVC, purchasing 11,068 shares at a cost of $9.37 a piece. Tokarz was up about 1.5% on the purchase at the high point of today’s trading session, with MVC trading as high as $9.51 in trading on Thursday. MVC Capital is trading up about 0.3% on the day Thursday. Before this latest buy, Tokarz made one other purchase in the past twelve months, buying $19,320 shares at a cost of $9.20 each. And also on Monday, Director Virgis Colbert bought $24,350 worth of Drive Shack, buying 5,000 shares at a cost of $4.87 each.
Government Wants SEBI To Go Deeper Into IndiGo Promoter Dispute (Bloomberg)
The government wants the Securities and Exchange Board of India to go deeper into the IndiGo promoter dispute and probe the role of all board members and every entity associated with Rakesh Gangwal and Rahul Bhatia, the co-promoters of InterGlobe Aviation Ltd. The SEBI is free to action for any and all wrongdoing detected, officials said Thursday. InterGlobe Aviation is the parent of the country’s largest airline IndiGo. There are indications of violations in corporate governance, fair market trade and insider trading rules, and SEBI needs to probe role of each and every entity associated with all board members and promoter-linked entities, according to the officials.
The President of QAD Inc (NASDAQ: QADA) is Selling Shares (Analyst Ratings)
Today, the President of QAD Inc (QADA), Pamela Lopker, sold shares of QADA for $222.9K. Following Pamela Lopker’s last QADA Sell transaction on January 20, 2015, the stock climbed by 24.9%. In addition to Pamela Lopker, one other QADA executive reported Sell trades in the last month. QADA’s market cap is $969.2M and the company has a P/E ratio of 804.18. Currently, QAD Inc has an average volume of 59.61K.