Research Analyst Charged With Insider Trading On Major Buyout Deal

Moderator: moderators

kreslik.news
rank: 5000+ posts
rank: 5000+ posts
Posts: 5082
Joined: Thu Jan 14, 2016 9:36 am
Reputation: 0
Gender: None specified

Research Analyst Charged With Insider Trading On Major Buyout Deal

Postby kreslik.news » Wed Apr 13, 2016 7:27 am


The U.S. Securities and Exchange Commission (SEC) today charged a New-York based research analyst who allegedly made over $1.5 million in February through trades made via his mother’s brokerage account. His actions were based on non-public information that he obtained at work in relation to Apollo Global Management’s $7 billion deal to buy ADT Corporation.

According to SEC’s complaint, John Afriyie found out about the impending acquisition of ADT Corporation when prospective acquirer, Apollo Global Management, approached the investment firm where he was employed to discuss potential debt financing for a public-to-private deal.

Afriyie subsequently proceeded to trade on confidential details relating ... (read more)

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Return to “news”