SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 16655 \ August 17, 2000
SEC v. TRACIE CARPIN, KIMBERLY DAVIS, NEDENE GREER
SEC SETTLES INSIDER TRADING CASE AGAINST TOMMY DALTON GREER, NEDENE GREER, TRACIE CARPIN, and KIMBERLY DAVIS
The U.S. Securities and Exchange Commission filed today a settled injunctive action in the United States District Court for the District of Columbia against Tommy Dalton Greer, Nedene Greer, Tracie Carpin, and Kimberly Davis in SEC v. Tracie Carpin, Kimberly Davis, Nedene Greer and Tommy Dalton Greer,00 Civ Action No. 01996. The complaint alleges that in March and May of 1997 Tommy Dalton Greer and members of his family engaged insider trading in the securities of Catalina Marketing Corporation, a Florida marketing company and Inbrand Corporation, formerly a Georgia adult incontinence product manufacturer. At the time of the trading, Greer was a member of the board of directors of Catalina and Inbrand. Without admitting or denying the allegations of the complaint, the defendants consented to the entry of a final judgment permanently enjoining them from violating the antifraud provisions of the federal securities laws [Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, thereunder], and ordering them to pay disgorgement of unjust enrichment of $163,750.58 and civil penalties totaling $161,181.03.
The complaint alleges that prior to Catalina's announcement on March 31, 1997 of disappointing fourth quarter earnings, Greer learned this information and knowingly or recklessly provided to his wife, Nedene Greer, and his two stepdaughters, Tracie Carpin and Kimberly Davis. Nedene Greer, Carpin and Davis each sold or caused to be sold shares of Catalina. In addition, the complaint alleges that Greer learned prior to the May 13, 1997 announcement that Tyco International Ltd. would acquire Inbrand and provided that information knowingly or recklessly to his wife and stepdaughter, each of whom purchased or caused to be purchased shares of Inbrand. The defendants realized unlawful profits and avoided losses of at least $129,119 from trading while in possession of material nonpublic information about Catalina and Inbrand.
The Commission acknowledges and gives special thanks to the NASDR for their assistance in this matter.