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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
SECURITIES GIANAMORE DISTRICT CHICAGO MERGER ACQUISITION EXCHANGE COMMISSION ILLINOIS RYAN PAUL UNITED STATES DISTRICT STATES DISTRICT COURT NORTHERN DISTRICT CIVIL INJUNCTION COMPLAINT CREDIT SUISSE FIRST NONPUBLIC INFORMATION POSSESSION CSFB CHICAGO SHARES DEFENDANTS VIOLATING SECURITIES EXCHANGE ACT THEREUNDER DISGORGEMENT PLUS PREJUDGMENT IMPOSITION CIVIL PENALTY |
SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 17340 / January 25, 2002
SECURITIES AND EXCHANGE COMMISSION V. RYAN D. EVANS AND PAUL A. GIANAMORE
(United States District Court for the Northern District of Illinois,
02-C-0582).
The Commission announced today the filing of a civil injunctive action
in the United States District Court for the Northern District of
Illinois against Ryan D. Evans ("Evans") and Paul A. Gianamore
("Gianamore"), both of Chicago, Illinois, for insider trading. The
Commission's complaint alleges from in or about December 1999 to in or
about August 2000, Gianamore, then a Credit Suisse First Boston
Financial Analyst, tipped his friend Evans with material, nonpublic
information regarding several publicly traded companies. Evans then
traded in the securities of these companies while in possession of
this information. Specifically, during the relevant time period,
Credit Suisse First Boston's Chicago office ("CSFB Chicago") acted as
a financial advisor to one of the parties of at least four merger or
acquisition transactions. Through his employment at CSFB Chicago,
Gianamore obtained nonpublic information about the mergers and
acquisitions in issue before they were publicly announced. He then
tipped Evans with the inside information. While in possession of this
information, Evans purchased shares in companies shortly before an
announcement of the merger or acquisition. In each case, Evans sold
his shares shortly after the public announcement of the merger or
acquisition, making approximately $243,667.17 from these four trades.
The Complaint seeks the entry of an order of permanent injunction,
enjoining the defendants from violating Sections 10(b) and 14(e) of
the Securities Exchange Act of 1934 and Rules 10b-5 and 14e-3
thereunder, as well as disgorgement, plus prejudgment interest and the
imposition of a civil penalty.
_________________________________________________________________
Modified 01/25/2002
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