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SEC charges former SAP America executive with insider trading

Published 06/16/2016, 01:22 PM
Updated 06/16/2016, 01:30 PM
© Reuters. To match Special Report SEC/INVESTIGATIONS
SAPG
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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.

© Reuters. To match Special Report SEC/INVESTIGATIONS

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.

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