If You're Going To Insider Trade, Think About Doing It In A Stock Not So Near To The SEC's Heart

Author:
Updated:
Original:

Particularly if you're Hugh Hefner's son in law:

William A. Marovitz, who is married to former Playboy Enterprises Inc. Chief Executive Officer Christie Hefner, allegedly made $100,952 on the trades, according to a complaint filed today in federal court in Chicago. Marovitz’s lawyer, Jim Streicker of Chicago, said the case has been settled. ...

"Despite instructions from his wife that he should not trade in shares of Playboy and a warning from the general counsel of Playboy about his buying or selling Playboy stock, Marovitz bought and sold shares of Playboy in his own brokerage accounts between 2004 and 2009," according to the SEC complaint.

Ex-Playboy CEO's Husband Sued for Insider Trading [Bloomberg]

Related