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1
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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
SECURITIES COMPLAINT EXCHANGE COMMISSION ALLEGES SUPER RITE CIVIL ACTION DLJ CAPITAL GAMING SHARES COMMON STOCK RICHFOOD PROFITS SETTLEMENT PAY FILING ADMITTING DENYING IMPOSITION PERMANENT INJUNCTION FORBIDDING INJUNCTION FORBIDDING FUTURE FORBIDDING FUTURE VIOLATIONS ANTIFRAUD PROVISIONS FEDERAL SECURITIES LAWS DISGORGE INSIDER TRADING PAY PREJUDGMENT THEREON AMOUNT CIVIL PENALTY |
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 15785 / June 17, 1998
SECURITIES AND EXCHANGE COMMISSION v. MY DANG, Civil Action No. 98
4865 DT
(JGx) (C.D. Cal.)
The Securities and Exchange Commission ( Commission ) filed a Complaint
on
June 17, 1998, in federal district court in Los Angeles, California,
against My Dang ( Dang ), a former investment banking associate at
Donaldson, Lufkin & Jenrette, Inc. ( DLJ ). The Commission s
Complaint
alleges that between April and June 1995, Dang traded in the securities
of
two DLJ clients, Capital Gaming International, Inc. ( Capital Gaming )
and
Super Rite Corporation ( Super Rite ), while in possession of material
nonpublic information obtained during the course of his employment.
The
Complaint alleges that Dang sold short a total of 32,400 shares of
Capital
Gaming common stock in April and May 1995, prior to three adverse
announcements concerning operations at the company s New Orleans
riverboat
facility. Dang also purchased 13,000 shares of Super Rite common stock
in
June 1995, after learning that DLJ had been retained by Super Rite in
connection with an impending acquisition by Richfood Holdings, Inc.
( Richfood ). In each instance, Dang liquidated his securities
position
shortly after the news was publicly disclosed. The Complaint alleged
that
Dang realized profits of $59,765.27 as a result of his illegal trades.
Concurrent with the filing of the Complaint, Dang settled the civil
action
without admitting or denying the allegations alleged in the Complaint.
Under the terms of the settlement, Dang agreed to the imposition of a
permanent injunction forbidding future violations of the antifraud
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