WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Thursday that it had charged with insider trading a former SAP America (DE:SAPG) executive and three friends who made more than $500,000 based on his illegal tip about an impending merger.
The SEC said in a statement that Christopher Salis, then a global vice president at SAP America, had received thousands of dollars in kickbacks for tipping a friend ahead of SAP’s acquisition of Concur Technologies in 2014.