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Thursday, June 20, 2024 | Back issues
Courthouse News Service Courthouse News Service

Inside Trading

The SEC accuses four men - including two brothers and a brother in law - of making $430,000 trading in Jamdat stock on inside information the company was about to be bought by Electronic Arts, in San Francisco Federal Court.

The SEC claims Jamdat Vice President Benjamin Jones tipped his brother William Jones III to the inside information, who bought shares and passed the info along to his brother-in-law Jeremiah Carroll and to securities trader William T. Dailey III, who also bought stock. Ben Jones did not buy any stock, but he facilitated the others' $430,000 profits, the SEC says.

In a related case in Manhattan Federal Court, the SEC sued Alissa J. Kueng, a "sales specialist" at JP Morgan Securities, who allegedly got the inside information and passed it along to a JP Morgan trader, who passed it along to two clients; those three men made $350,000 from it, the SEC said.

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