4 Settle in Univision Insider Trading Case
The Securities and Exchange Commission said four people had settled charges of insider trading ahead of last year’s announcement that Univision Communications Inc. was going to acquire Hispanic Broadcasting Corp.
The defendants include Ernest Bieling, a former employee in Univision’s corporate finance department, and Robert Hughes, a member of Hispanic Broadcasting’s board of directors.
Also settling were Stephen White, a broker in the Dallas office of Stephens Inc., and his brother, William.
Attorneys for the four, who agreed to pay more than $450,000, did not return calls.