The Securities and Exchange Commission has filed insider trading charges against three software company founders, alleging they took unfair advantage of incorrect media speculation and analyst reports about the planned sale of the company.
According to the SEC complaint, in March and April of 2011 Richard Lawson, a co-founder and co-chairman of St. Paul, Minnesota-based computer software company Lawson Software Inc., gave non-public information to his brother, William Lawson, and a family friend, John Cerullo, concerning the company’s planned sale to Infor Global Solutions for $11.25 per share.
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