Wednesday, 23 July 2014
Last updated 5 hours ago
Oct 21 2008 | 11:32am ET
The Securities and Exchange Commission yesterday charged Brian Ladin, a former analyst for Bonanza Master Fund, a Dallas-based hedge fund, with insider trading.
The SEC's complaint alleges that Ladin engaged in unlawful trading in connection with a 2004 private investment in public equity transaction conducted by Radyne Comstream. Ladin, on the basis of the material, non-public PIPE information, presented an investment in Radyne to Bonanza, resulting in Bonanza establishing a 100,000-share short position in Radyne stock. Ladin, in signing the offering's stock purchase agreement on behalf of Bonanza, allegedly represented that Bonanza did not hold a short position in Radyne common stock when he knew that Bonanza held a short position in Radyne's common stock.
Ladin, without admitting or denying the allegations, agreed to settle the charges for $330,427. Bonanza, as relief defendant, was ordered to disgorge a total of $371,429 in ill-gotten gains.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…