Thursday, 18 December 2014
Last updated 6 hours ago
Apr 23 2010 | 11:30am ET
A former private equity executive had pleaded guilty to insider-trading on information he received from his brother-in-law, a former hedge fund executive.
King Chuen Tang admitted both to passing on confidential information as well as receiving it. The former Friedman Fleischer & Lowe CFO said he received—and traded on—insider information about Acxiom Corp. from his brother-in-law, then-ValueAct Capital CFO Ronald Yee. In addition to passing on Yee’s tips about Acxiom, Tang also admitted to passing on a tip of his own about mattress company Tempur-Pedic International.
Tang pleaded guilty to insider trading and conspiracy in San Francisco federal court. He faces up to 25 years in prison when he is sentenced on Sept. 16; until then, he is free on bail.
According to prosecutors, Tang and his circle made about $5.5 million on the illegal trades.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.