Dart Group Settles SEC Complaint: Corporate raider...
From Times Staff and Wire Reports
Dart Group Settles SEC Complaint: Corporate raider Herbert Haft’s Dart Group settled an SEC complaint alleging that it had acted as an investment company because it made large profits from the sale of stocks in a series of takeover bids for retailing companies. Without admitting or denying wrongdoing, the Landover, Md., company agreed in effect not to buy and sell securities as its primary business unless it registers as an investment company. The SEC accused Dart Group in a civil complaint in Washington federal court of violating securities laws by acting as an unregistered investment firm.
