Exec settles insider trading case

The SEC has settled with the owner of an investor relations firm who illegally traded the stock of Manatron Inc., an information technology company.
OCT 24, 2008
By  Bloomberg
The Securities and Exchange Commission has settled with the owner of an investor relations firm who illegally traded the stock of Manatron Inc., an information technology company. The SEC's complaint, which was filed in the U.S. District Court for the District of Arizona, charged Brett C. Maas, the former owner of Hayden Communications Inc. of San Diego, the investor relations firm that represented Manatron of Portage, Mich., with insider trading. He purchased shares just before Thoma Cressey Bravo, a Chicago-based private-equity firm, bought the company. After Mr. Maas purchased 20,000 Manatron shares Jan. 14, the company issued a press release the following day saying that it would be acquired. That pushed the closing price of Manatron's stock up 32%. Mr. Maas sold the shares later that day, realizing a profit of $59,077. Under the terms of the settlement, he will return his profit and will pay a financial penalty of $29,538, a payment of $88,615.

Latest News

Navigating life’s big transitions for women clients
Navigating life’s big transitions for women clients

Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.

Rethink cybersecurity disclosure rule, SIFMA urges SEC
Rethink cybersecurity disclosure rule, SIFMA urges SEC

The industry group and other financial associations called out risks from premature disclosures, overreporting, and bad actors weaponizing the rule's requirements.

Blackstone, Wellington Management, and Vanguard Group to run new interval fund; face big questions
Blackstone, Wellington Management, and Vanguard Group to run new interval fund; face big questions

In regards to the new fund, called WVB All Markets Fund, Morningstar analysts wrote that, “despite the brand-name pedigree of the asset managers involved, most of these strategies are untested.”

Gen AI gathers momentum as wealth firms scale digital plans
Gen AI gathers momentum as wealth firms scale digital plans

New Broadridge survey reveals surge in AI investments, with a third of respondents expecting a payoff within six months.

Vanguard effect loses potency as new ETFs post record high in fees
Vanguard effect loses potency as new ETFs post record high in fees

The latest launches in 2025, which include leveraged strategies, cryptocurrency, and active funds, mark a sharp turn from the passive revolution envisioned by Jack Bogle.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.