SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16427 / February 7, 2000
Securities and Exchange Commission v. Thomas Moncure, John Moncure, and Edward Remington, Civil Action No. 3:00CV64
SEC Settles Insider Trading Action With Three Defendants
On February 7, 2000, the SEC filed an action in federal district court in Richmond, Virginia, alleging that in October 1996 a former employee of CSX Corp., his father and a friend engaged in insider trading in the securities of Conrail, Inc., prior to the public announcement of its acquisition by CSX Corporation. The Commission's complaint alleges that:
The three defendants consented, without admitting or denying the allegations of the complaint, to the issuance of an injunction restraining them from future violations of the provisions of the federal securities laws that each is alleged to have violated. Each defendant also consented to disgorge his trading profits, with prejudgment interest, in the amount of $19,730.39 (Thomas Moncure), $16,328.71 (John Moncure), and $9,717.59 (Edward Remington). Thomas Moncure and Edward Remington agreed to pay a civil penalty equal to their respective trading profits of $16,200 and $8,125.
The Commission acknowledges the assistance of the New York Stock Exchange in this matter.http://www.sec.gov/litigation/litreleases/lr16427.htm