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Friday June 25, 04:05
SEC sues ex-Fidelity Nat’l director for insider trading

The Securities and Exchange Commission Thursday filed insider trading charges against a former director of Fidelity National Financial (FNF) for allegedly buying shares of LendingTree ahead of an announcement that the firm would be acquired by another company. The SEC claims J. Thomas Talbot, a former Fidelity director and California businessman, learned of the LendingTree acquisition at a Fidelity board meeting in 2003. Talbot then bought 10,000 shares of LendingTree stock and sold them when the acquisition was announced, realizing illicit profits of $67,881, the SEC said. The SEC is seeking a court order banning Talbot from serving as a director or officer of a publicly traded company as well as monetary penalties and fines.


 

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