SEC v. Richard Bruce Moore, Case No. 13-cv-2514 HB (S.D.N.Y.). On April 16, 2013, the SEC announced it filed settled insider trading charges against Richard Bruce Moore. According to the SEC, Moore purchased American Depositary Receipts (“ADRs”) of Tomkins plc, a British company, before the announcement that the Canada Pension Plan Investment Board (CPPIB) and a Canadian private equity firm had approached Tomkins with a takeover offer. The SEC alleges that in connection with his at job CIBC, which entailed pitches to the CPPIB, Moore obtained information from which he determined that the CPPIB was working on an offer to acquire Tomkins. Moore purchased 51,350 Tomkins ADRs on the New York Stock Exchange. The day the offer was announced, the closing price of Tomkins ADRs rose significantly enabling Moore to make $163,000 on his purchase. Without admitting or denying the charges, Moore consented to entry of a final judgment enjoining him against future violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, ordering him to pay $163,293 in disgorgement plus $14,905 in prejudgment interest thereon, and imposing a $163,293 penalty. Moore has also agreed to an SEC administrative Order barring him from association with any broker, dealer, investment adviser, municipal securities dealer, or transfer agent, and from participating in any penny stock offering.
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