More On

Father-daughter duo settles with the SEC over insider trading allegations

The family agreed to pay $175,000 and did not admit wrongdoing

Here’s a note to all the fathers out there: If you need to bond with your daughter, organize a family game night. Go to the zoo. Insider trading does not equal family fun.

And it’s certainly not fun to get sued by the Securities and Exchange Commission (SEC), as a Montana family found out. A former paralegal and her father have agreed to a more than $175,000 settlement with the SEC over allegations that they engaged in insider trading.

So the story goes, in 2009, when the former paralegal found out her company was being purchased, she used that information, plus her boyfriend’s brokerage account, to unjustly enrich herself and her family to the tune of $67,000. However, we will never know the truth, as she and her father managed to settle the case without admitting wrongdoing.

Read more at the Wall Street Journal.

Contributing Author

Join the Conversation

Advertisement. Closing in 15 seconds.