U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23013 / June 4, 2014
Securities and Exchange Commission v. Arrowood, Civil Action No. 1:12-cv-00082-RWS (N.D. Ga. 2014)
SEC Obtains Judgment Against Georgia Man Charged with Insider Trading
The Securities and Exchange Commission announced that the United States District Court for the Northern District of Georgia entered a consent judgment against defendant Earl C. Arrowood. The complaint in the case alleged that in 2007 Arrowood traded on the basis of material, non-public information regarding a potential merger of Matria Healthcare, Inc. The Court ordered Arrowood to pay disgorgement of $9,899, prejudgment interest of $2,793 and a one-time civil penalty of $9,899. The Court also enjoined Arrowood against future violations of the securities laws. After the Court entered judgment against Arrowood, the Commission voluntarily dismissed the charges against Arrowood's co-defendant, Parker H. Petit. Arrowood did not admit or deny liability.