June 20, 2006

SEC sues over Maverick Tube option trades

Wayne State University Law Professor Peter J. Henning commented about the Securities and Exchange Commission's lawsuit against five Argentinian investors claiming they used insider information to reap more than $1 million from Tenaris SA's agreement to buy Chesterfield-based Maverick Tube Corp. Henning said it will be important for regulators to show how the insider information was acquired. "They're going to need a link," Henning said. "They've got all the timing evidence that they need but suspicion doesn't get you all the way there. It will be critical that the SEC is able to prove the defendants acted with insider information."

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