SEC Charges Insider Trading in Saatchi Bid:...
From Times Staff and Wire Reports
SEC Charges Insider Trading in Saatchi Bid: The Securities and Exchange Commission charged a Connecticut man with insider trading, saying he illegally made $78,812 in profits on information that Saatchi & Saatchi Co. was in talks to buy Gartner Group. Robert Troup, 69, of New Canaan, Conn. said he intends to defend himself against the charges. The SEC alleges that Troup bought 22,000 shares in Gartner for $345,000 in June, 1988, after a vice president at the Stanford, Conn.-based marketing company told him Gartner was in buyout talks with Saatchi. Days later he sold the shares for $424,312 after the British advertising giant announced its $22.50-a-share takeover, the complaint said.
