A Rite Aid Corp. regional vice president agreed to pay the SEC almost $186,700 on Thursday to end an insider trading lawsuit connected to the company’s plan to merge with Walgreens Boots Alliance Inc.
David M. Mahan, who has worked for Rite Aid since 1984, avoided more than $87,000 in losses when he offloaded stock ahead of the news the the planned merger wouldn’t close by late January 2017 as expected, the Securities and Exchange Commission said in the U.S. District Court for the Middle District of Pennsylvania.
Through his work, Mahan “learned material nonpublic information” related to the chances ...
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