A former Rite Aid Corp. vice president agreed to a $305,000 civil fine to settle allegations of insider trading in connection with a planned Walgreens merger, the SEC said in federal court in Pennsylvania.
Steven J. Sheinfeld’s deal with the regulator also calls for an injunction prohibiting him from violating the federal securities laws at issue, according to documents the Securities and Exchange Commission filed in the U.S. District Court for the Middle District of Pennsylvania.
Sheinfeld allegedly sold nearly $1 million worth of Rite Aid securities and avoided about $140,000 in losses after learning the Walgreens deal probably wouldn’t ...
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