Most Recent Articles In Fashion Scoops
Latest Fashion Scoops Articles
- Chris Uphues Collaborates With Loft for Valentine's Day
- Céline Shows Pre-Fall Presentation in Paris
- Forever 21 Coming to Fifth Ave.
More Articles By
CASHING IN ON COMPS: The Securities and Exchange Commission has charged four northern California residents, including a former Ross Stores financial executive, with insider trading in Ross stock options that generated about $12 million in profits. According to the complaint, filed Friday in U.S. District Court for the northern district of California, Roshanlal Chaganlal, senior director of shortage control at Ross until his termination in December 2012, began feeding inside information on Ross’ monthly sales to his friend Saleem Khan, who subsequently traded on the data using funds sent through channels to make them harder to trace. Ammar Akbari and Ranjan Mendonsa were also charged for their roles, while two others, Michael Koza and Khan’s brother-in-law Shahid Khan, were named relief defendants and settled the matter by paying the court the $272,000 remaining in their accounts from the trading. Saleem Khan was also charged with insider trading in advance of Oracle’s 2012 acquisition of Taleo Corp. The complaint seeks permanent relief, disgorgement of illicit profits plus interest and unspecified financial penalties, as well as an officer-and-director bar against Chaganlal, according to the complaint.