Sunday, 26 April 2015
Last updated 2 days ago
Oct 31 2013 | 9:06am ET
A retired consultant passed confidential tips about children's clothing company Carter's Inc. to two hedge fund managers, who used the information to make about $2 million, the Securities and Exchange Commission said.
The regulator on Tuesday sued Dennis Rosenberg, accusing him of earning some $500,000 on the tips, both from investing on them himself and in consulting fees from the hedge funds, which were not identified. The SEC said that Rosenberg received the tips from a former Carter's executive between 2005 and 2010.
Rosenberg has settled the allegations and will pay more than $600,000, plus civil penalties to be decided later. He did not admit or deny any wrongdoing.
Rosenberg's is the third insider-trading case at Carter's in as many years; two former vice presidents at the company pleaded guilty to criminal charges.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…