Tags: apple | swiss | trader | insider case

Swiss Trader Pays $2.8 Million in Apple-Linked Insider Case

Tuesday, 16 Jun 2015 07:48 AM

A Swiss trader will pay more than $2.8 million to settle U.S. Securities and Exchange Commission claims that he traded on nonpublic information to profit when a biometrics company was acquired by Apple Inc.

Helmut Anscheringer bought stock and call options in Melbourne, Florida-based Authentec Inc. after learning from a friend related to an executive that Apple had proposed to buy the firm, the SEC said Monday. Authentec provides fingerprint sensors and software for electronic devices.

Anscheringer reaped more than $1.8 million in illicit profits when Authentec stock closed 60 percent higher after the firm said in July 2012 that it would become a wholly owned Apple subsidiary, the SEC said.

Anscheringer, who lives in Basel, Switzerland, settled the claims without admitting or denying the SEC’s findings, the agency said. His payment includes a penalty of about $910,000.

Phillip L. Stern, a Neal Gerber & Eisenberg attorney listed by the SEC as defense counsel for Anscheringer, declined to comment on the case.


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A Swiss trader will pay more than $2.8 million to settle U.S. Securities and Exchange Commission claims that he traded on nonpublic information to profit when a biometrics company was acquired by Apple Inc. Helmut Anscheringer bought stock and call options in Melbourne,...
apple, swiss, trader, insider case
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2015-48-16
Tuesday, 16 Jun 2015 07:48 AM
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