Investor relations partner settles U.S. SEC insider-trading charges
WASHINGTON, July 22
WASHINGTON, July 22 (Reuters) - A New York-based investor relations executive on Tuesday agreed to settle civil charges that he illegally traded with inside information obtained while preparing press releases for company clients, U.S. regulators said.
Kevin McGrath of Cameron Associates will pay a little more than $25,000 in penalties, disgorgement and prejudgment interest, the Securities and Exchange Commission said.
The SEC alleges that McGrath sold his shares in Misonix Inc when he learned the company planned to announce disappointing financial results, and bought stock in Clean Diesel Technologies Inc before it announced positive market-moving news. (Reporting by Sarah N. Lynch; Editing by Bill Trott)