UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 17128 / September 14, 2001
SECURITIES AND EXCHANGE COMMISSION V. SHEWAK VASHDEV BACHANI,
Defendant, Civil Action No. 3-01CV1744-X
On September 5, 2001, the Commission filed an insider trading case in
the United States District Court for the Northern District of Texas,
Dallas Division, against Shewak Vashdev Bachani, 37, formerly of
Coppell, Texas. According to the Complaint, Bachani purchased 2800
shares of GetThere, Inc. ("GetThere") common stock on August 25, 2000,
based on material non-public information that his employer, Sabre
Holding Corp., would shortly announce its acquisition of GetThere. At
the time of his purchase, Bachani knew that Sabre was planning to
purchase GetThere through a cash tender offer; Bachani worked as a
financial analyst for Sabre, and his duties included evaluating
companies that Sabre considered acquiring. On August 28, 2000 - the
first trading day after Bachani purchased shares of GetThere - Sabre
announced its acquisition of GetThere, and the price of GetThere stock
increased approximately 40%. Bachani sold his GetThere stock the same
day, earning trading profits of $13,628.
The Commission charged that Bachani violated Sections 10(b) and 14(e)
of the Securities Exchange Act of 1934 and Rules 10b-5 and 14e-3
thereunder. In its Complaint, the Commission requested that Bachani be
enjoined from future securities violations and be ordered to disgorge
his illegal profits and pay a civil money penalty.
Simultaneously with the filing of its action, the Commission accepted
Bachani's offer of settlement, in which he agreed, without admitting
or denying the allegations in the Commission's Complaint, to the entry
of an order enjoining him from further violations of the securities
laws; to pay a civil money penalty in the amount of $13,628; and to
pay disgorgement of $13,628 in illegal profits, plus $918 in
prejudgment interest.
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Modified 09/17/2001
SNIPPETS:
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION V. SHEWAK VASHDEV BACHANI,
On September 5, 2001, the Commission filed an insider trading case in the United States
According to the Complaint, Bachani purchased 2800 shares of GetThere, Inc. common stock on
At the time of his purchase, Bachani knew that Sabre was planning to purchase GetThere
On August 28, 2000 - the first trading day after Bachani purchased shares of GetThere - Sabre
In its Complaint, the Commission requested that Bachani be enjoined from future securities
Simultaneously with the filing of its action, the Commission accepted Bachani's offer of
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