Who sent wells notices to Pequot, and Samberg?
The Securities and Exchange Commission (SEC) sent a “Wells notice” to Pequot, and Mr. Samberg. The Securities and Exchange Commission is prepared to file insider-trading charges against Pequot Capital Management and its founder, Arthur Samberg, over Pequot’s 2001 trading in Microsoft Corp. stock, according to a letter Pequot sent to investors. Sources: http://online.wsj.com/article/SB125009373416526291.
The Securities and Exchange Commission is prepared to file insider-trading charges against Pequot Capital Management and its founder, Arthur Samberg, over Pequot’s 2001 trading in Microsoft Corp. stock, according to a letter Pequot sent to investors. The SEC sent a “Wells notice” to Mr. Samberg and the firm about six weeks ago indicating it is prepared to bring charges, a person familiar with the matter said. In a response to the Wells notice, filed about a month ago, Mr. Samberg and Pequot argued that the trades weren’t based on material, nonpublic information, this person said. Mr. Samberg, 68 years old, is expected to fight the charges. Spokesmen for the SEC and Pequot declined to comment. Sources: http://online.wsj.com/article/SB125009373416526291.
