OTHER NEWS - Feb. 14, 1994
Judge Dismisses Insider Trading Charges: A federal judge in New York has dismissed civil charges brought by the Securities and Exchange Commission against two stockbrokers, Frank Petrone and James Zanengo. In an oral ruling from the bench, U.S. District Judge Loretta A. Preska threw out the charges Feb. 4 after a five-day trial, a lawyer for Petrone said. The SEC had accused the two of trading on inside information in the Philip Morris takeover of Kraft in 1988. Lawyer Jody M. Peikin said the judge stated she found no evidence of them receiving illegal inside information.
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