The Securities and Exchange Commission has accused employees at Parkcentral Capital Management of profiting from insider trading as the company was acquired by Dell, according to CNNMoney. An employee at Parkcentral, an investment firm under Perot Systems, the services company recently purchased for $3.9 billion by Dell, purchased call options on Perot stock two weeks prior to the deal. The employee, Reza Saleh, sold his options after the merger was announced, but was quickly identified by the SEC as a perpetrator of insider trading. Saleh would have earned $8.6 million for his scheme.
SEC Charges Investment Firm Employees with Insider Trading
An employee of a Perot Systems investment firm has been caught for insider trading.
September 24, 2009