U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16080 / March 9, 1999
Securities and Exchange Commission v. Hahn Truong, Hieu Truong,
Hen Truong, Nina Vinh, Mike Pirbazari and Christopher Nguyen,
Civil Action No. C-98-21137 SW (N.D. Cal.)
The Securities and Exchange Commission ("Commission")
announced that on February 23, 1999, the Honorable Spencer
Williams, Senior United States District Judge, entered a final
judgment against Nina Vinh ("Vinh") permanently enjoining her
from violating the antifraud provisions of the federal securities
laws. The final judgment also sets disgorgement of Vinh’s ill-
gotten gains, plus prejudgment interest, at $18,601.26 and
imposes a civil penalty of $15,250.00.
The Commission’s complaint, filed on November 16, 1998,
alleges that Hahn Truong used confidential corporate information
in selling shares in his then-employer, Molecular Dynamics, Inc.
("Molecular"), and tipped his brothers Hieu Truong ("Hieu") and
Hen Truong, and his friend Christopher Nguyen, each of whom sold
all of his Molecular shares and sold short additional Molecular
shares. The Commission’s complaint further alleges that Hieu in
turn tipped his sister-in-law, Vinh, who sold all of her
Molecular shares, sold short additional Molecular shares and
tipped her sister and her friend, Mike Pirbazari, each of whom
sold all of her/his Molecular shares. The defendants and Vinh’s
sister avoided losses totaling $294,151 and made short selling
profits of $134,985.
The final judgment enjoins Vinh from future violations of
Section 17(a) of the Securities Act of 1933 and Section 10(b) of
the Securities Exchange Act of 1934 and
Rule 10b-5 thereunder. Vinh consented to the entry of the final
judgment without admitting or denying the Commission’s
allegations.
SNIPPETS:
U.S. SECURITIES AND EXCHANGE COMMISSION
Securities and Exchange Commission v. Hahn Truong, Hieu Truong, Hen Truong, Nina Vinh, Mike
The Securities and Exchange Commission announced that on February 23, 1999, the Honorable
The Commission’s complaint, filed on November 16, 1998, alleges that Hahn Truong used
The Commission’s complaint further alleges that Hieu in turn tipped his sister-in-law, Vinh,
The defendants and Vinh’s sister avoided losses totaling $294,151 and made short selling
The final judgment enjoins Vinh from future violations of Section 17of the Securities Act of
Vinh consented to the entry of the final judgment without admitting or denying the
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