A US court has found four people guilty in connection with a civil insider-trading case related to IBM's takeover of Lotus Development in 1995, according to US reports.
The SEC claimed a secretary at IBM learned of its takeover plans from documents she copied in 1995 for her supervisor. She then passed the details on to her husband, the court was told.
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James Ribellino Jr, Ralph Serpe and Gerald Wells bought Lotus stock options after receiving the tip, reaping a one-day profit of $82,875 (£59,196), the SEC said.
The court found the three men liable for insider trading, along with Claudio Spinelli, who earned $36,656 from Lotus options.