BRIEFLY / TECHNOLOGY : Oak Chairman, 2 Others Settle SEC Charges

Oak Technology Inc. Chairman David D. Tsang and two relatives agreed to pay nearly $566,000 to settle charges that the relatives traded shares of the Sunnyvale, Calif., company based on inside knowledge. The Securities and Exchange Commission alleged David Tsang “conveyed nonpublic information” to his brother, Robert D. Tsang, and that Robert Tsang and his sister-in-law made a $283,000 profit when Oak announced better-than-expected financial results for the quarter that ended Dec. 31, 1995. Robert Tsang of Hacienda Heights and Maggie I. Hsin Yu Zahn of San Marino bought $239,000 in Oak call options the day before and the day of Oak’s announcement, the SEC said. Oak shares rose about 22% on Jan. 24, 1996, after the maker of multimedia computer chips and software announced the results. All three individuals, without admitting or denying the SEC’s allegations, jointly agreed to repay $283,000 in allegedly ill-gotten gains and pay $283,000 in civil penalties, the SEC said. Lawyers for Tsang and the others couldn’t be reached for comment. Oak shares rose 22 cents to close at $5.50 on Nasdaq.