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SEC Accuses Two of Trading Ahead of WestRock-KapStone Merger

Aug. 14, 2019, 6:17 PM

Two men allegedly made about $60,000 trading on inside information about WestRock Co.‘s 2018 purchase of KapStone Paper and Packaging Corp.

Harsh Nahata, a former WestRock manager who worked on the deal, told his friend Ajay S. Bhandari about it in 2017 and both men bought up KapStone stock before news of the deal became public, according to a Securities and Exchange Commission complaint added to the U.S. District Court for the Northern District of Georgia docket Aug. 14.

Nahata checked with his broker before purchasing the stock to make sure KapRock wouln’t be able to identify him as...

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