Former BP PLC senior manager Kevin Crotty has agreed to settle SEC claims that he purchased TravelCenters of America stock shortly before BP’s purchase of the truck stop company became public.
Crotty will pay the amount of his unrealized gain—$30,667—in disgorgement, and an equal amount as a civil penalty, according to a Securities and Exchange Commission press release. The case was filed Friday in the US District Court for the Northern District of Illinois.
Crotty’s is the second insider trading case stemming from the BP-TravelCenters deal, the commission said. Crotty also faces criminal charges in a parallel action, according ...
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