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Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium.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
- Alders Call for Hearing on Delays in Critical Public Safety Technology Procurement
- La Rabida Children’s Advocacy Center Celebrates 40 Years of Healing and Hope for more than 10,000 Local Children Impacted by Abuse and Trauma
- Comedian And Actor Lil Rel Howery Leads Storytime At Nia Family Center
- The Support Group Hosts Lunch With A Leader
- Legislation Aims To Provide Equitable Funding To Public Universities
Latest Podcast
Things That You Should Know That Your Agent Knows...
