Meritor, Inc.

Following a 7 August 2024 public announcement that the company was being acquired, the stock price increased significantly, enabling Christensen to sell his holdings for a profit of $49,609.73. Christensen faces a maximum penalty of up to 20 years in prison when sentenced on the 15th of December 2026.

Now, the SEC in the US has charged former Cummings Incorporated corporate development accountant Fan Jocelyn Yang, her husband Jing Tian, and four associates with insider trading in connection with Cummings' February 2022 acquisition of Meteor Incorporated According to the SEC complaint filed in federal court in the District of Columbia, Yang tipped non-public acquisition details to Tian, who passed the information down a chain of acquaintances who traded Meritor securities to generate over $500,000 in collective illegal profit.

Uncovered by data analysis tools from the SEC's Market Abuse Units Analysis and Detection Center, all six defendants consented to final judgments and joining them from future securities violations, with the four trading defendants agreeing to pay individual disgorgement and civil penalties, while Yang and Tian, who also face criminal charges from the U.S. Attorney's Office, agreed to court-determined civil penalties.

And finally, on market abuse news, we'll stick with the U.S., where the SEC has announced settled charges against New York-based registered investment advisor Zoe Financial Inc. for failing fully to disclose material conflicts of interest to clients and prospective clients.