Court Freezes Assets in Contel Case: A...
Court Freezes Assets in Contel Case: A federal judge in New York ordered assets to be frozen in a suspended insider-trading case stemming from the proposed merger between GTE Corp. and Contel Corp. The judge pointed out that the possibility of repeated insider-trading practices was a key factor in granting the order. The SEC so far has identified four West German nationals among an unidentified number of European investors suspected of insider trading in the Contel case.
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