SEC says Perry failed to disclose interest in Mylan

Fri Jul 24, 2009

The U.S. Securities and Exchange Commission charged Richard Perry’s Perry Corp. with violating securities laws by failing to disclose "substantial stock" in Mylan Laboratories. Perry purchased the shares to influence the outcome of a proposed merger from which Perry sought to profit, the SEC said Tuesday.

Perry agreed to pay a $150,000 penalty to settle the charges. The firm, which managed $8.8 billion at the end of the first quarter, neither admitted nor denied fault.  In a statement, the firm said "The settlement announced by the SEC brings to a satisfactory conclusion any concerns that were raised with...

ISSN: 2151-1845 / CDC10004H

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