Lamorinda Weekly is a weekly community newspaper for Lafayette, Moraga and Orinda in California USA. 26,600 printed copies delivered to 23,000 houses or 65,000 people.
Litigation Release No. 24982 / December 11, 2020
Securities and Exchange Commission v. Christopher Clark and William Wright, No. 1:20-cv-01529 (E.D. Va. filed December 11, 2020)
The Securities and Exchange Commission today charged the former Corporate Controller of CEB Inc. and his brother-in-law with insider trading in advance of a public announcement about CEB s acquisition for $2.6 billion. The alleged insider trading scheme generated profits of $296,000.
According to the SEC s complaint, William D. Wright learned non-public information about the acquisition of CEB while serving as a senior accounting officer of the company. In the months leading up to the merger announcement, the complaint alleges, Wright repeatedly tipped his brother-in-law, Christopher J. Clark, about the impending acquisition. The complaint alleges that based on the information tipped by Wright, Clark purchased highly speculative, out-of-the-money call options and directed his son to purchase the same op