{"id":69261,"date":"2019-05-13T02:02:31","date_gmt":"2019-05-13T06:02:31","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=69261"},"modified":"2019-05-14T21:46:46","modified_gmt":"2019-05-15T01:46:46","slug":"court-orders-robert-m-morano-to-pay-insider-trading-penalty","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2019\/court-orders-robert-m-morano-to-pay-insider-trading-penalty.html","title":{"rendered":"Court Orders Robert M. Morano to Pay Insider Trading Penalty"},"content":{"rendered":"<p>(HedgeCo.Net) The U.S. District Court for the District of Oregon entered a final judgment against Robert M. Morano ordering him to pay a $75,000 insider trading penalty, which represents approximately two times the amount of Morano&#8217;s illegal trading profits.<\/p>\n<p>The SEC&#8217;s complaint charges Morano, a former employee of UTi Worldwide, Inc., with insider trading based on material nonpublic information he learned about the company&#8217;s impending acquisition by DSV Air &#038; Sea Holdings A\/V. The SEC&#8217;s complaint alleges that Morano obtained more than $38,000 in illegal profits by purchasing shares of UTi prior to the acquisition announcement.<\/p>\n<p>Without admitting or denying the allegations, Morano previously consented to a judgment entered on May 16, 2018, that permanently enjoined him from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; ordered him to pay disgorgement of $38,242 and prejudgment interest of $2,317; and reserved issues relating to a penalty for subsequent determination. The final judgment ordering the penalty concludes the litigation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The U.S. District Court for the District of Oregon entered a final judgment against Robert M. Morano ordering him to pay a $75,000 insider trading penalty, which represents approximately two times the amount of Morano&#8217;s illegal trading profits. The [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-69261","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/69261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=69261"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/69261\/revisions"}],"predecessor-version":[{"id":69263,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/69261\/revisions\/69263"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=69261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=69261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=69261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}