Former Well Fargo Analyst To Settle Insider Trading Case
on Friday, just a few days before he was to face Securities and Exchange Commission (SEC) charges of insider trading, from Wells Fargo research analyst Gregory T. Bolan Jr. reached a deal in principal with the regulators to resolve the charges. The SEC accused him of engaging in insider trading by giving one of the firm’s traders access to some of his research reports before they went public. The administrative law judge assigned to the case agreed to enter a stay pending the working out of the final settlement agreement.
The administrative hearing will continue against the former Well Fargo trader, Joseph Ruggieri. The SEC charging documents stated the two former employees ran a scheme that generated approximately $117,000 in profits for Wells Fargo by trading in stock before the release of reports that altered the share values.
The experienced securities fraud attorneys at Colling Gilbert Wright have investigated and filed numerous actions involving insider trading and other forms of securities fraud. If you believe you have been a victim of securities fraud, please contact our office for a free case evaluation.