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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
DEFENDANT EXCHANGE COMMISSION PARIENTE VIOLATION UNITED STATES LITIGATION SETTLES INSIDER TRADING PURCHASES FSA STOCK DISTRICT JUDGEMENT PERMANENT ADMITTING DENYING PARIS FRANCE PURCHASED COMMON STOCK FINANCIAL SECURITY ASSURANCE SECURITY ASSURANCE HOLDINGS POSSESSION NONPUBLIC INFORMATION CONTEMPLATED ACQUISITION DEXIA GROUP REASON BREACH DUTIES TRUST |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 17605 / July 10, 2002
SEC v. Amouyal, et al., 00-Civ-2029 (S.D.N.Y.)
LAST OF 10 FOREIGN NATIONALS SETTLES INSIDER TRADING ACTION INVOLVING
PURCHASES OF FSA STOCK PRIOR TO MARCH 14, 2000 MERGER ANNOUNCEMENT
The Securities and Exchange Commission announced that on June 24, 2002
the Honorable Gerald E. Lynch, United States District Judge for the
Southern District of New York, entered a Final Judgment of Permanent
Injunction as to Defendant Gerard Pariente, the sole remaining
defendant in this international insider trading case.
Without admitting or denying that he committed any violation, Pariente
consented to the entry of the final judgment which permanently enjoins
him from violating antifraud provisions of Section 10(b) of the
Securities Exchange Act of 1934 and Rule 10b-5 thereunder and orders
him to disgorge $4,000 in profits plus prejudgment interest.
The Commission's amended complaint alleges that Pariente and the other
defendants, each of whom resides in or near Paris, France, purchased
common stock of Financial Security Assurance Holdings, Ltd. while in
possession of material, nonpublic information concerning a
contemplated acquisition of FSA by Dexia Group that they knew, or had
reason to know, had been communicated to them in breach of fiduciary
or similar duties of trust and confidence. As previously announced,
the other defendants also settled without admitting or denying that
they committed any violation. See Litigation Releases and .
_________________________________________________________________
Modified 07/10/2002
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