Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

SEC Sues For Insider Trading Of Nova Stock

by Marc S. Reisch
August 3, 2009 | A version of this story appeared in Volume 87, Issue 31

The U.S. Securities & Exchange Commission has filed a suit against Khaled Mohammed Sharif Al Sayed Al Hashemi for unlawful insider trading of Nova Chemicals shares. According to the complaint filed in the U.S. District Court for the Southern District of New York, SEC wants the court to order Al Hashemi to give up $458,760 in trading profits and pay an unspecified civil penalty. SEC alleges that Hashemi, an information technology manager at Abu Dhabi Oil Refining, purchased 120,000 Nova shares in the two weeks before the Feb. 23 announcement that International Petroleum Investment Co. had agreed to buy Nova for $2.3 billion. The government of Abu Dhabi owns both IPIC and Abu Dhabi Oil Refining.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.