SEC Charges Former Carter’s Executive with Fraud and Insider Trading
SEC Press Release
The SEC announced (1) the filing of a civil action against a former executive of a clothing company for engaging in financial fraud and insider trading, and (2) perhaps more notably, the entering into of a non-prosecution agreement with the company with which he was formerly associated. The non-prosecution agreement is said to reflect the company's "prompt and complete self-reporting of the misconduct," as well as its actions in cooperating and investigating the misconduct. The non-prosecution agreement is the first entered into by the SEC since the announcement of its new cooperation initiative earlier this year.
Please contact the following Cadwalader attorney if you have any questions about this item:
Bradley Bondi, [email protected]
Document Number
SEC PR 2010-252
Date
December 20, 2010
Cross Reference (links require a Cabinet subscription)
SEC PR 2010-6 (SEC Announces Initiative to Encourage Individuals and Companies to Cooperate and Assist in Investigations)