SECURITIES

7 Charged With Insider Trading in Grumman Case: The Securities and Exchange Commission said they bought Grumman Corp. shares or tipped off others before Martin Marietta Corp. announced a tender offer for the company in March, 1994. In a civil complaint filed in a federal court in Manhattan, the SEC alleges that Nicholas Croce, a former Grumman executive, passed on non-public information about the proposed deal to his brother Frank, who also worked at Grumman. Frank Croce, according to the complaint, then told a cousin, who then bought Grumman securities and told five others, who in turn told six others to buy Grumman shares. The SEC said that simultaneously with the filing of the lawsuit, the seven defendants settled the case by agreeing to pay penalties totaling $295,000. They neither admitted nor denied any wrongdoing, the SEC said.