SEC Charges Former ATI Chairman With Contempt

The Securities and Exchange Commission charged a former chairman of Glendale-based ATI Medical with civil contempt for failing to return $180,331 in trading profits he allegedly earned by manipulating ATI stock.

In March, 1990, the SEC sued Michael Kaufman, the former chairman, for allegedly buying and selling ATI stock through numerous brokerage accounts to inflate the stock’s price. Kaufman did not admit or deny the civil charges, but agreed not to violate securities laws in the future and to hand over the trading profits, plus interest, the SEC said.