Securities
Violation of the Securities Act
Insider Trading
Securities and Exchange Commission v. Victor Dosti and Whittier Trust Co.
Published: Jun. 29, 2013 | Result Date: Jun. 7, 2013 | Filing Date: Jan. 1, 1900 |Case number: 13-cv-03897 Settlement – $1,700,000
Facts
The Securities and Exchange Commission filed suit against Whittier Trust Co. and Victor Dosti, accusing them of insider trading. The agency claimed that Dosti and Whittier Trust profited based on inside tips about Dell, Nvidia Corp., and Wind River Systems. Dosti allegedly received material nonpublic information from a junior colleague, who was tipped off by insiders.
Result
The parties settled for $1.7 million.
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