Traders See SEC Insider Trading Charges Linked to Intel Deal

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By Andrew Ramonas

Two Virginia-based traders were the latest to be charged by the SEC with insider trading connected to Intel Corp.’s acquisition of a software company ( SEC v. Cluff, S.D.N.Y., No. 17-cv-2460, 4/5/17 ).

Lawrence F. Cluff Jr. and Roger E. Shaoul used insider information to secure almost $1 million in trading profits on Intel Corp.’s $15.3 billion acquisition of a software company, the Securities and Exchange Commission alleged in a complaint filed in the U.S. District Court for the Southern District of New York April 5. The complaint came after the agency brought insider trading charges March 23 against an Israeli genetics professor and a self-employed Ph.D engineer in connection with Intel’s March 13-announced purchase of Mobileye N.V.

Information on lawyers for Cluff and Shaoul wasn’t immediately available.

To contact the reporter on this story: Andrew Ramonas in Washington at aramonas@bna.com

To contact the editors responsible for this story: Phyllis Diamond at pdiamond@bna.com

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