- Imation Corporation stock price today and history
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Imation Corporation stock price, IMN
Imation Corporation stock chart:
Imation Corporation close price: 0.77
Stock price forecast:
Total forecasts: 64
Reached: 6 (9.38%)
Total Win: 0.13 (18.56%)
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Imation Corporation latest news:
SEC charges Chinese executive with insider trading in Comcast deal
The Securities and Exchange Commission got a court order on Friday to freeze the brokerage accounts of Shaohua (Michael) Yin, a partner at Summitview Capital Management Ltd., a Hong Kong-based private equity firm, alleging the accounts hold more than $29 million in illegal profits from insider trading in advance of the acquisition of DreamWorks Animation SKG, Inc. by Comcast Corp [s:cmcsa] in April 2016. The SEC's order alleges Yin accumulated more than $56 million of DreamWorks stock in the U.S. brokerage accounts of five Chinese nationals, including his elderly parents, accounting for 16.9% of all market trading in DreamWorks during that period. DreamWorks stock price rose 47.3% once the acquisition was announced. The SEC also alleges the accounts profited from other suspicious trading in another U.S.-based company and three China-based companies ahead of market-moving news. The SEC is seeking a permanent injunction, return of allegedly ill-gotten profits, civil money penalties, and other relief. "The SEC's data analytic investigative tools enabled us to determine who was behind the suspicious trading," said Michele Wein Layne, director of the SEC's Los Angeles Regional Office in a press release. The SEC's investigation continues and was aided by the Financial Industry Regulatory Authority.
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