Two Charged With Insider Trading in Connection With c to Sirius

Authored by Mark Hefflinger on December 20, 2005 - 7:18am.

Washington - Radio shock jock Howard Stern's former accountant has pleaded guilty to insider trading in connection with information he received about Stern's move to Sirius Satellite Radio. Gary Herwitz, formerly of Mahoney Cohen & Co., now faces up to 16 months in prison for buying shares of Sirius, after Stern told him in confidence that Sirius had made him an offer. The Securities and Exchange Commission (SEC) also charged Herwitz and a former Sirius executive with insider trading, also for acting on information before the Sirius deal was made public. Both Herwitz and former Sirius executive Tracey Stanyer settled the SEC charges and agreed to pay fines without admitting wrongdoing.
http://www.sec.gov/news/press/2005-178.htm
http://biz.yahoo.com/ap/051219/sirius_insider_trading.html?.v=6 (AP)
http://biz.yahoo.com/rb/051219/financial_sec_stern.html?.v=6 (Reuters)
http://www.siriusradio.com