SEC Charges Investor Relations Executive with Insider Trading While Preparing Clients' Press Releases

The SEC charged a partner at the investor relations firm Cameron Associates with insider trading on the confidential information he learned about two clients while helping to prepare their press releases.

According to the SEC complaint, the partner sold his shares in Misonix Inc. upon learning that the company was set to announce disappointing financial results. Additionally, the partner bought stock in Clean Diesel Technologies Inc. when he learned about the company's impending announcement of positive news, and profited when its stock price nearly doubled. In both cases, the partner learned of the information while working on press releases for the companies.

See: SEC Complaint; SEC Press Release. See also: Insider Trading Specialty Page (available to Cabinet subscribers only).