The Securities and Exchange Commission has charged Kevin McGrath, a partner at New York-based investor relations firm Cameron Associates, with insider trading for allegedly trading on confidential information gained from writing press releases for two clients.
McGrath has agreed to settle the SEC’s charges by paying $11,776 in disgorged gains, prejudgment interest of $1,492 and a penalty of $11,776, according to the SEC. He has also agreed not to trade in the stock of any company represented by Cameron Associates within one year of such an engagement. McGrath does not admit or deny wrongdoing, Reuters reports.
