Assets Frozen Of 3 Firms Accused Of Inside Trades
WASHINGTON (AP) - A federal judge has frozen assets of three Swiss-based investment firms accused of profiting from trades based on inside information about a Swiss company's planned acquisition of a U.S. maker of antibacterial products.
The Securities and Exchange Commission has accused the investment firms of making millions of dollars in trades on confidential information that Lonza Group planned to acquire Arch Chemicals Inc. for $1.2 billion. The trades were allegedly made ahead of the July 11 announcement of the deal.
Lonza is a Swiss specialty chemicals and biotechnology company. The acquisition will boost its standing in the market for antibacterial products, which is growing steadily and is worth about $10 billion a year, experts say.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
Latest Stories
- Retired Illinois Appellate Court Justice and Member of the Glen Ellyn Area Alumnae Chapter of Delta Sigma Theta Sorority, Inc. Shelvin Louise Marie Hall Dies
- It’s That Time Again: Reviewing Your Medicare Plan Before It’s Too Late
- Exciting Breakthroughs in Alzheimer’s Research Offer New Hope for Patients
- C3 Impact Fund Seeks To Spur Growth In Underserved Communities Through Real estate
- HelloBaby Identifies Site For A Second Location
Latest Podcast
Quandra-Urban Market Exchange
