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King Pharmaceuticals

SEC Sues Over Pfizer-King Trading

Pfizer Inc.'s acquisition of King Pharmaceuticals in August 2010 is part of an insider trading case from charges brought by the Securities and Exchange Commission on Friday. The owner and president of Klein Financial Services, Tibor Klein, has been charged for trading on non-public information on the merger. Klein is accused of misappropriating the information and trading in advance of the public announcement and making illegal profits of more than $300,000 for himself and his clients. The SEC also charged Klein's close friend Michael Shechtman, a stockbroker living in South Florida who tipped Klein of the potential merger.Copyright © 2013 MarketWatch, Inc....

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