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Government

Dec. 11, 2007

With British Insider-Trading Case, SEC Takes a Gamble

LOS ANGELES - In the summer of 2006, Securities and Exchange Commission staff lawyers spotted a series of offshore stock trades just before Petco Food Supplies announced a private equity buyout. To the lawyers, the timing of the trades reeked of insider trading. Only after filing a complaint did they realize they had stumbled into uncharted legal territory.

By Gabe Friedman
Daily Journal Staff Writer

      LOS ANGELES - In the summer of 2006, Securities and Exchange Commission staff lawyers spotted a series of offshore stock trades just before Petco Food Supplies announced a private equity buyout. To the lawyers, the timing of the trades reeked of insider trading.
      Only after filing a complaint did they realize they had stumbled into unchart...

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