Monday, February 26, 2007

SEC Sues Firm for Hacking Company News Releases

Paritosh Bansal writes for Reuters:

U.S. regulators sued an overseas company and its owner on Monday, alleging they hacked into computer systems to get corporate news releases early and traded on that information, making a profit of $2.7 million.

The Securities and Exchange Commission, in the lawsuit, accused Blue Bottle Ltd. of using the information it received to trade in securities of at least 12 U.S. companies, including AllianceBernstein Holding LP and Symantec Corp.

More here.

posted by Fergie @ 2/26/2007 01:02:00 PM

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