DALLAS (CN) – A man who worked for Perot Investments made $8.6 million by trading ahead on inside information that Dell was about to acquire Perot Systems, the SEC claims in Federal Court. It sued Reza Saleh, who bought more than 9,300 call options on Perot Systems before Dell offered $30 a share for the company on Sept. 21.
The day that Perot announced the $3.9 billion tender offer, its share price zoomed from $17.91 to $29.56 – up 65 percent. Saleh, 53, of Richardson, Texas, made $8,635,653 from his inside trading, the SEC said.
The SEC sued Amir Saleh, 49, as a relief defendant. He lives at the same address as Reza.
Reza is or was an employee of Parkcentral Capital Management, and also works, or worked, for Hill Air Co. dba Perot Investments, the SEC said. He allegedly learned about the tender offer through corporate chatter at Perot Investment.