{"id":2993,"date":"2014-02-18T16:14:55","date_gmt":"2014-02-18T21:14:55","guid":{"rendered":"http:\/\/webesco.net\/lawkhf\/?p=2993"},"modified":"2020-09-23T18:28:20","modified_gmt":"2020-09-23T22:28:20","slug":"sec-insider-trading-alert-teos-musicland-insider-trading-appeal-unsuccessful","status":"publish","type":"post","link":"https:\/\/www.khflaw.com\/news\/sec-insider-trading-alert-teos-musicland-insider-trading-appeal-unsuccessful\/","title":{"rendered":"SEC Insider Trading Alert: Teo’s Musicland Insider Trading Appeal Unsuccessful"},"content":{"rendered":"

On February 10, 2014, the Third Circuit Court of Appeals affirmed a lower federal court\u2019s jury verdict of insider trading against Alfred Teo and a trust he controlled.\u00a0\u00a0Alfred Teo Sr., a former shareholder in Musicland Stores Corp…..<\/p>\n

SEC Insider Trading Alert: Teo\u2019s Musicland Insider Trading Appeal Unsuccessful<\/span><\/strong><\/p>\n

\n

On February 10, 2014, the Third Circuit Court of Appeals affirmed a lower federal court\u2019s jury verdict of insider trading against Alfred Teo and a trust he controlled.\u00a0 Alfred Teo Sr., a former shareholder in Musicland Stores Corp, a conglomerate company that oversaw numerous music endeavors including Sam Goody music stores and Suncoast Motion Picture Co. video shops, was found guilty of insider trading.\u00a0 Teo and his trust were ordered to disgorge gains of $17,000,000 and to pay prejudgment interest of an additional $14,000,000.\u00a0 Teo received and traded on confidential information from insiders of Musicland about an impending all cash tender offer by Best Buy for all the shares of Musicland. The decision in SEC v. Teo<\/i> is another stark illustration of the painful economic consequences of insider trading. Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

On February 10, 2014, the Third Circuit Court of Appeals affirmed a lower federal court\u2019s jury verdict of insider trading against Alfred Teo and a trust he controlled.\u00a0\u00a0Alfred Teo Sr., a former shareholder in Musicland Stores Corp….. SEC Insider Trading Alert: Teo\u2019s Musicland Insider Trading Appeal Unsuccessful On February 10, 2014, the Third Circuit Court […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[415],"tags":[50,93],"coauthors":[512],"class_list":["post-2993","post","type-post","status-publish","format-standard","hentry","category-miscellaneous","tag-sec","tag-third-circuit","miscellaneous_lawyer-kang-haggerty-fetbroyt-llc"],"yoast_head":"\nSEC Insider Trading Alert: Teo's Musicland Insider Trading Appeal ...<\/title>\n<meta name=\"description\" content=\"On February 10, 2014, the Third Circuit Court of Appeals affirmed a lower federal court\u2019s jury verdict of insider trading against Alfred Teo...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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