SEC Settles Insider Trading Case Against Former GC of Amkor Technology

The SEC announced yesterday that on January 9 it had obtained a Final Judgment of permanent injunction, including a permanent officer and director bar against Kevin J. Heron.  Heron was the former General Counsel of Amkor Technology.  The judgment settles the Commission’s April 2007 case against Heron that alleged that from October 2003 through June 2004, Heron engaged in insider trading in Amkor securities prior to five Amkor public announcements relating to financial results and company business transactions.

The SEC alleged that Heron executed more than fifty illegal trades in Amkor stock and options on the basis of material, nonpublic information that he had learned as a result of his position as general counsel.  In addition, in October 2007, in a parallel criminal proceeding, Heron was convicted of securities fraud.  He was was sentenced to, and is currently serving, fifteen months incarceration, and ordered to forfeit approximately $43,000 of illegal trading proceeds.

Read the SEC’s Litigation Release