SEC v. Brent Cranmer

Brent Cranmer allegedly shared material nonpublic information about Kaman Corporation with Jonathan Whitesides, according to the SEC. Whitesides allegedly purchased Kaman call options for himself, and tipped his friend, Daniel McCormick, who purchased Kaman stock and call options based on the material nonpublic information, according to the SEC. Whitesides and McCormick allegedly made combined profits of over a million dollars by trading in advance of Kaman’s acquisition announcement, according to the SEC.

Summary generated from official Securities and Exchange Commission press release