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SEC Charges Ex-Wells Fargo Employees with Insider Trading

SEC Charges Ex-Wells Fargo Employees with Insider Trading

SEC Charges Ex-Wells Fargo Employees with Insider Trading 150 150 Rex Securities Law

On September 29, 2014, the U.S. Securities & Exchange Commisson (SEC) charged two former Wells Fargo employees with insider trading. The SEC complaint alleges that Gregory T. Bolan, Jr. worked as a research analysis he tipped Joseph C. Ruggieri, a Wells Fargo trader, in advance of several market moving ratings upgrades or downgrades. Ruggieri made over $117,000 on the trades, according to the SEC.

Last week the SEC announced that Wells Fargo had agreed to pay a $5 million penalty to settle charges that a former broker engaged in insider trading of Burger King Worldwide, Inc., before the buyout of the company in 2010. In that action the SEC had also charged that Wells Fargo delayed production of documents and produced an altered internal document.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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