SEC Charges Missouri Residents with Insider Trading

ADMINISTRATIVE PROCEEDING
File No. 3-92801

August 30, 2021 - The Securities and Exchange Commission today announced settled insider trading charges against Missouri residents Scott and Lisa Chasin and Beth Mueller for trading in the stock of Peak Resort, Inc. ahead of a July 2019 announcement that Peak Resorts would be acquired by Vail Resorts, Inc.

According to the SEC's orders, the Chasins purchased shares of Peak Resorts stock ahead of the merger announcement soon after receiving a tip from their friend and neighbor Mueller, who was Peak Resorts' senior director of corporate reporting. Specifically, the orders find that on July 18, 2019, Mueller recommended to Lisa Chasin that she should purchase Peak Resorts' stock. The Chasins, who, according to the orders, rarely invested in any individual stock and had never owned Peak Resorts stock before receiving the tip, acted immediately, buying 2,500 shares of Peak Resorts on the last trading day before the merger announcement. The orders find that Peak Resort's stock closed up 113% on heavy trading volume following the merger announcement, and the Chasins realized about $14,000 in trading profits.

The SEC's orders find that the Chasins and Mueller violated the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Without admitting or denying the findings, the Chasins and Mueller consented to the entry of cease-and-desist orders and each will pay a penalty of $27,996.

The SEC's investigation was conducted by Junling Ma and supervised by Marc Blau. The SEC appreciates the assistance of the Financial Industry Regulatory Authority.