William A. Day

The Securities and Exchange Commission accused the Massachusetts business owner of receiving and trading on information he learned of before a corporate acquisition. Day allegedly learned Smith & Nephew would announce its buyout of the Silicon Valley medical device company Oratec Interventions Inc. on February 14, 2002 and would offer Oratec stockholders $12.50 per share. Day purchased 12,000 Oratec shares just prior to the announcement of the buyout and sold them at a $42,632 profit on the day of the announcement. Day agreed to a $94,000 settlement in the U.S. District Court of Boston. (Feb-10-06) [BOSTON BUSINESS JOURNAL]

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