UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 17791 / October 17, 2002
Securities and Exchange Commission v. Alan E. Wesa, 01 Civ. Action No.
2613 (October 1, 2001)
SEC SETTLES INSIDER TRADING CASE AGAINST ALAN E. WESA
The Securities and Exchange Commission today announced that on
September 30, 2002, the Honorable Beverly B. Martin, United States
District Judge, Northern District of Georgia, entered a final judgment
of permanent injunction and other relief against defendant Alan Wesa.
Without admitting or denying the allegations of the complaint, the
defendant consented to the entry of a final judgment permanently
enjoining him from violating the anti-fraud provisions of the federal
securities laws (Section 10(b) of the Securities Exchange Act of 1934
and Rule 10b-5, thereunder), and ordering him to pay disgorgement of
$14,556, plus prejudgment interest of $6,231.42, and a civil penalty
of $14,556, totaling $35,343.42.
In its Complaint filed on October 1, 2001, the Commission alleged that
the defendant violated Section 10(b) and Rule 10b-5 thereunder by
purchasing Inbrand common stock while in possession of material
non-public information. During 1996 and 1997, Alan E. Wesa was the
Manager of Financial Planning and Analysis for Inbrand Corporation,
then a Georgia corporation engaged in the business of manufacturing
and selling adult incontinence products. Prior to the May 13, 1997,
announcement that Tyco would acquire Inbrand, Wesa learned of the
pending acquisition. On Monday morning, May 12, 1997, while in
possession of the material non-public information concerning Tyco's
acquisition of Inbrand, Wesa made two separate purchases of Inbrand
common stock totaling 1,370 shares. As a result of this trading, Wesa
made profits of $14,556.
We acknowledge the NASD for their assistance in this matter. For
additional information, see (October 1, 2001).
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Modified 10/17/2002
SNIPPETS:
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Securities and Exchange Commission v. Alan E. Wesa,
The Securities and Exchange Commission today announced that on September 30, 2002, the
Without admitting or denying the allegations of the complaint, the defendant consented to the
In its Complaint filed on October 1, 2001, the Commission alleged that the defendant violated
During 1996 and 1997, Alan E. Wesa was the Manager of Financial Planning and Analysis for
Prior to the May 13, 1997, announcement that Tyco would acquire Inbrand, Wesa learned of the
On Monday morning, May 12, 1997, while in possession of the material non-public information
As a result of this trading, Wesa made profits of $14,556.
We acknowledge the NASD for their assistance in this matter.
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