May 7, 2019

The SEC has tentatively settled insider trading charges with a Nevada man who allegedly engaged in prohibited insider trading after he peeked at confidential details of a possible acquisition by Cintas Corporation while at the home of Cintas’s general counsel, a lifelong friend. Armed with information about the company’s plan to acquire G&K Services, Brian Fettner purchased G&K stock through his ex-wife and ex-girlfriend’s brokerage accounts, then persuaded both a third love interest and his father to purchase G&K stock on their own. When the merger was publicly announced in August 2016, accounts associated with Fettner netted profits exceeding $250,000. Fettner is expected to pay a penalty of $252,995, and his ex-wife and ex-girlfriend is expected to disgorge of their illicit gains. SEC

Tagged in: Financial and Investment Fraud, Insider Trading,