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Sunday, May 19, 2024 | Back issues
Courthouse News Service Courthouse News Service

Alabama Traded On Inside Information

WASHINGTON (CN) - Alabama's state pension fund made $700,000 by trading on inside information about the acquisition of The Liberty Corp. - information the state gleaned because it was financing the acquisition by Raycom Media, the SEC reported Thursday.

The SEC said it did not punish The Retirement Systems of Alabama because no one personally profited from the transaction, and the state cooperated in the investigation.

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