SEC sues ex-Ernst & Young manager for insider trading

Allegations result of illegal profits made from the worker’s purchase of Activision call options

The sheriff is back in town. The Securities and Exchange Commission (SEC), fresh off filing a record number of cases in the 2011 fiscal year, Friday leveled a lawsuit at CPA Mark Konyndyk, formerly a manager at Ernst & Young (E&Y), for insider trading.

Konyndyk, previously a manager in E&Y’s Transaction Advisory Services Group, allegedly made a $9,725 profit purchasing Activision Inc. call options.

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