United States Securities & Exchange Commission v. Blackwell

OPINION AND ORDER

MARBLEY, District Judge.

I. INTRODUCTION

This enforcement action filed by the United States Securities and Exchange Commission (the “SEC” or the “Commission”) involves alleged insider trading in the stock of Worthington Foods, Inc. (“Worthington”). The SEC alleges that Defendant, Roger D. Blackwell (“Blackwell”), a director of Worthington, provided illegal tips to close friends and family members prior to the October 1, 1999 announcement that the Kellogg Company (“Kellogg”) had entered into an agreement to acquire Worthington. The SEC contends that these tips allowed the other…