Canadian Investor – SEC Insider Trading Action Settled with No Admission of Wrongdoing

Herrick represented a Canadian investor in an SEC insider trading lawsuit filed in the Southern District of New York alleging that our client received stock tips from a business associate with access to insider information on upcoming mergers and acquisitions. After intensive negotiations involving individuals from the top echelon of the SEC's Division of Enforcement in Washington, we were able to reach a settlement resolving the charges against our client without any admissions of wrongdoing. No criminal charges were ever brought.