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SEC charges Pakistani man over bogus Integrated Device bid
May 24, 2016 / 9:16 PM / a year ago

SEC charges Pakistani man over bogus Integrated Device bid

May 24 (Reuters) - The U.S. Securities and Exchange Commission on Tuesday said it has charged a Pakistani man who illegally traded in Integrated Device Technology Inc stock options in connection with a bogus takeover bid for the chipmaker last month.

The regulator also said it has won a court order freezing the roughly $425,000 of profit that it said the defendant, Nauman Aly, made on his trades. (Reporting by Jonathan Stempel in New York; Editing by Jonathan Oatis)

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