SEC charges Denver Hedge Fund Managers with Insider Trading
The SEC recently charged a Denver hedge fund manager with insider trading of Mariner Energy, Inc. The complaint alleges that Mariner Energy board member H. Clayton Peterson gave his son, Drew, confidential information about an upcoming acquisition of Mariner. The complaint alleges that Drew Peterson used the information to purchase Mariner stock for himself and others and passed along the information to friends to use. An amended complaint named two friends of Drew Peterson who also traded on the information.
For more information see: http://www.sec.gov/news/press/2011/2011-218.htm