Rebecca Norton Insider Trading Settlement Approved
The Securities and Exchange Commission (SEC) announced that, on October 27, 2015, the United States District Court for the District of Arizona entered a settled final judgment against Rebecca Norton, the remaining defendant in SEC v. Mary Beth Knight and Rebecca Norton, Civ. 2:11-cv-00973 (DGC) (D. Ariz.). Norton agreed to entry of the final judgment, without admitting or denying the SEC’s claims in that action. The SEC’s complaint claimed that in 2006, Norton was involved in insider trading in the securities of Choice Hotels International, Inc. The other defendant in the action settled with the SEC upon filing and, in correlation with that settlement, paid disgorgement of Norton’s illicit gains and losses avoided as the result of Norton’s trading. In May 2011, Rebecca Norton, without admitting or denying the claims in the complaint, agreed to full injunctive relief. The determination of a civil penalty against Norton, if any, remained to be determined afterward by the court. The final judgment entered by the court on October 27, 2015, permanently enjoined Norton from future violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5, and imposed a civil penalty in the amount of $25,000, to be satisfied by an initial payment of $5,000 and quarterly payments of $5,000 thereafter.
For further information about this securities law blog post, please contact Brenda Hamilton, Securities Attorney at 101 Plaza Real S, Suite 202 N, Boca Raton, Florida, (561) 416-8956, by email at [email protected] or visit www.securitieslawyer101.com. This securities law blog post is provided as a general informational service to clients and friends of Hamilton & Associates Law Group and should not be construed as, and does not constitute, legal and compliance advice on any specific matter, nor does this message create an attorney-client relationship. Please note that the prior results discussed herein do not guarantee similar outcomes.
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Brenda Hamilton, Securities Attorney
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