Another day, another insider trading charge from the SEC.
This one is against Sherif Mityas, a partner and vice president with management consulting firm A.T. Kearney.
According to the complaint, Mityas and his firm were hired by The Carlyle Group in May 2010 to advise on the private equity firm’s possible acquisition of NBTY, a publicly-traded manufacturer of vitamins and nutritional supplements. The deal had not yet been announced, and Mityas was bound by signed confidentiality agreements.
But such documents allegedly didn’t prevent Mityas in July 2010 from purchasing 1,950 shares of NBTY stock (including some on behalf of a relative). Once the deal was announced a couple weeks later Mityas sold the shares for more than $38,000 in profit.
“Mityas was entrusted with highly confidential information but, driven by greed, he violated that trust and jeopardized a successful consulting career for the chance to make a quick buck,” said Sanjay Wadhwa, associate director of the SEC’s New York Regional Office.
Mityas has since settled with the SEC for more than $78,000, while also is facing criminal charges in New York.
Neither Carlyle nor A.T. Kearney are named as defendants. A call to A.T. Kearney has not yet been returned.
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