Federal prosecutors and securities regulators are taking a deeper look into how executives use prearranged trading plans to buy and sell shares of their company stock. The Manhattan U.S. attorney’s office has launched a broad criminal investigation into whether seven corporate executives cited in a recent Wall Street Journal article traded improperly in shares of their own company’s stock, according to a person familiar with the matter. These executives lead companies in industries ranging from retailing to energy to data processing.
Meanwhile, the Securities and Exchange Commission is examining trading by VeriFone Systems Inc. Chief Executive Officer Douglas Bergeron, according to a person familiar with that probe. VeriFone said Mr. Bergeron, one of those cited in the Journal article, did nothing wrong.
‘Enforcement 40’ for 2020
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