Securities Law, NYSE, NASDAQ & OTC Markets Listings & Compliance
Court Enters Final Judgment Against Saleem Khan and Roshanlal Chaganlal for Insider Trading Scheme
Khan and Chaganlal agreed to settle charges against them without admitting or denying the SEC’s allegations and consented to the entry of final judgment.
The final judgment against Khan imposes a permanent injunction against future violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, and orders Khan to pay $7,493,000 in disgorgement of illicit trading profits, $7,493,000 in penalties, and $847,147 in prejudgment interest.
The final judgment against Chaganlal imposes a permanent injunction against future violations of Section 10(b) of the Exchange Act and Rule 10b-5, and orders Chaganlal to pay $130,000 in disgorgement of payments received in exchange for tips, $130,000 in penalties, and $14,680 in prejudgment interest. The final judgment also bars Chaganlal for ten years from serving as an officer or director pursuant to Section 21(d) of the Exchange Act.
These settlements completely resolve the SEC’s action in this matter.
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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