SEC Settles with Ukrainian Traders Who Profited from Hacked News Releases

A Ukrainian firm agreed to pay $30 million to settle allegations that it profited from trading on nonpublic corporate information hacked from newswire services.

By getting an early look at pertinent information before its public release, the traders are alleged to have generated more than $100 million in illegal profits over a five-year period. The SEC litigation continues against thirty two additional defendants.