U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19594A/ September 14, 2006
Securities and Exchange Commission v. One or More Unknown Traders of Options on Common Stock of Ralston Purina Co., 01 Civ. 0339 (WHP) (S.D.N.Y.)
Remaining Defendants Voluntarily Dismissed in Matter Alleging Insider Trading
The Securities and Exchange Commission today announced that, on August 19, 2003, pursuant to the Commission's motion to voluntarily dismiss the case, the U.S. District Court for the Southern District of New York entered an Order vacating default judgments, releasing any remaining frozen assets, lifting the Preliminary Injunction, and dismissing the action as to the remaining individual and entity defendants in the matter, Dr. Stefano Bruschini, Jakob Keller, Tiziano and Laura Moccetti, Francesco Corrado Innocente Molo, Silvio Domenico Tarchini, 100457 Arte, 100412 Februar, and the Arum Investment Trust. Because these were the only remaining defendants, the Order also terminated the action.
This action was commenced on January 17, 2001. The Commission's complaint alleged that certain trades in Ralston Purina options made anonymously through Swiss bank accounts violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.