Deals
SAP Co-CEO’s Ex-Assistant Settles SEC Insider Claims
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A former board assistant to the co-chief executive officer of SAP AG, the German software maker, made $43,500 in illicit profit through insider trading, the Securities and Exchange Commission claimed in a lawsuit.
David F. Marchand, 41, was sued yesterday in federal court in Newark, New Jersey, and agreed to pay $89,155 to settle the case. The SEC claimed he profited from trades he made before SAP said it would buy SuccessFactors Inc. in 2011 and Ariba Inc. in 2012. Marchand also bought SAP shares before the company’s release in January 2012 of favorable financial performance results, the SEC said.