Banker allegedly tipped friend about $8.1bn takeover; friend made $18.5m
A former Bank of America investment banker has been accused by the SEC of tipping a longtime friend about a confidential $8.1 billion South Jersey Industries takeover. The friend allegedly bought $53 million worth of shares and made $18.5 million after the deal was announced. Both men deny the insider-trading allegations and face legal action.
We haven't written up this one. Times of India has the full story — the link below goes straight to it.
