What a Pal! General Counsel’s Childhood Friend Accused of Peeking at Merger Documents, Insider Trading | Corporate Counsel

“While there [in the den], Fettner saw the folder with the merger documents on the desk and read at least some of the draft nondisclosure agreement between Cintas and G&K,” the SEC states in its complaint. “Fettner said nothing to his friend about having seen the merger documents in his house, and the two left for the golf course.”

Later that same day, Fettner bought 4,000 shares of G&K stock with a brokerage account for his ex-wife, the SEC alleges. Over the next few weeks, Fettner allegedly bought 3,600 more shares of G&K stock with his ex’s account; picked up another 200 shares using his former girlfriend’s account; and persuaded his current girlfriend to buy 300 shares of the stock and his father to buy 2,000 shares.

via What a Pal! General Counsel’s Childhood Friend Accused of Peeking at Merger Documents, Insider Trading | Corporate Counsel.