(AP) An analyst who worked for an affiliate of SAC Capital Advisors, the firm at the center of one of the biggest insider-trading cases in history, has been barred from the securities industry to settle civil charges of profiting from confidential information.
Ronald Dennis also agreed to pay $203,000 in the settlement with the Securities and Exchange Commission announced Thursday. The SEC said Dennis got details on coming announcements by Dell and Foundry Networks and used the information to make illegal trades in the companies' stock.
Dennis neither admitted nor denied the allegations.
SAC Capital, the hedge fund owned by Steven A. Cohen, pleaded guilty in November to fraud charges. Eight portfolio managers and research analysts have been convicted or pleaded guilty to criminal charges in the case.