Former Perot employee surrenders stock sale profits in deal to settle insider trading case
By APTuesday, January 5, 2010
Former Perot employee surrenders stock profits
DALLAS — The Securities and Exchange Commission says a former employee of a Perot Systems Corp. affiliate has agreed to return more than $8.6 million from a stock sale related to its proposed acquisition by Dell Inc.
The SEC says in a statement that Reza Saleh (RAY’-zah sah-LAY’) admitted no wrongdoing in the settlement filed Tuesday in federal court in Dallas.
The agency accused Saleh of insider trading, saying he bought a large number of shares with knowledge of the proposed deal before it was announced in September. The SEC said Saleh profited from the sale of those shares when Perot stock soared on news of the deal.
Saleh worked for Parkcentral Capital Management LP, the Plano-based investment firm of former presidential candidate and Perot Systems Chairman Emeritus Ross Perot.
