SEC Charges the Son Whom Mom Didn't Love as Much

The SEC charged the brother of a director, his friend, and his sister-in-law with insider trading in the securities of an East Lansing, MI-based holding company for a medical professional liability insurer. Without admitting or denying the allegations in the SEC's complaint, Stilwell, Moore, and Murphy consented to the entry of final judgments ordering them to pay disgorgement, prejudgment interest, and financial penalties, and permanently enjoining them from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

See: Complaint.See also: Press Release.See also: Gifts You Can't Give Your Wife; Chinese Husband-Wife Duo and Affiliates Agree to Pay $3.3 Million to Settle Charges in Insider Trading Case;There Are Some Things that Brothers and Sisters Should Not Share.