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U.S. Securities and Exchange Commission

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19223 / May 12, 2005

SECURITIES AND EXCHANGE COMMISSION v. STEVEN E. NOTHERN, (United States District Court for the District of Massachusetts, Civil Action No. 05-CV-10983 (NMG))

SEC RE-FILES INSIDER TRADING CHARGES AGAINST STEVEN E. NOTHERN RELATED TO TREASURY ANNOUNCEMENT

The Securities and Exchange Commission ("Commission") today announced that it re-filed a civil suit in federal court in Boston against Steven E. Nothern arising from trading in U.S. Treasury 30-year bonds minutes before the Treasury Department's October 31, 2001 announcement that it would no longer issue such bonds.

The Commission previously filed an action against Nothern, Peter Davis, Jr., a Washington, D.C.-based consultant, and former Goldman, Sachs & Co. economist John Youngdahl in September 2003 based on the same facts alleged in the instant complaint, but voluntarily dismissed the complaint as to Nothern in November 2003. Davis and Youngdahl settled with the Commission in September and November 2003, respectively. For more information about this case, see the Commission's Litigation Release No. 18322, dated September 3, 2003 and Litigation Release No. 18453, dated November 12, 2003.


http://www.sec.gov/litigation/litreleases/lr19223.htm


Modified: 05/12/2005