SEC v. Wiener (Insider Trading)
The U.S. Securities and Exchange Commission (SEC) charged BAE Systems executive Daniel F. Wiener II with engaging in illegal insider trading in December 2007 by purchasing securities of MTC Technologies, Inc. prior to the public announcement that BAE Systems was going to acquire MTC. Wiener realized a profit of $67,687 when he sold his MTC shares a month after the acquisition was announced. Without admitting or denying the allegations in the complaint, Wiener agreed to pay disgorgement of $67,687, prejudgment interest of $8,323, and a civil penalty of $25,000.
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- Enforcement Agency
- Contracting Party
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- Date of Settlement Announcement