Insider Trading Allegations Hit Private Equity
It’s been at least two years since I first began wondering when a private equity pro would get accused of insider trading. Really thought it would happen sooner – and on a grander scale – but better late than never (caught). The first to fall is Chen Tang, who briefly served as chief financial officer with buyout shop Friedman Fleischer & Lowe. He had previously served as CFO for both Prospect Venture Partners and Tallwood Venture Capital. Tang and several others were accused last Friday by the SEC of making more than $8 million in “illicit profits from unlawful trades in the securities of Tempur-pedic International, Inc. and Acxiom Corporation.”
2 November 2009•2 mins read
